Costs of renewing contracts or printing new price lists are known as

Question

Quizplus · Accepted Answer

Menu costs refer to the costs incurred by firms in maintaining and updating their price lists or contracts. These costs include the expenses associated with printing new price lists, renewing contracts with suppliers, and updating sales agreements. Such costs are a normal part of doing business and are essential for firms to remain competitive in the market. Therefore, the correct choice is menu costs (option B). The other options are not the appropriate descriptions of this concept.

Costs of Renewing Contracts or Printing New Price Lists Are