An in-depth and amusing look at the concept of menu costs in economics, understanding how and why businesses hesitate to change prices and the impact of these costs on price stickiness in the market.
Dive into the quirky world of Menu Costs! Learn why that lunch special's price doesn't change as quickly as you'd think, and what it all means for the stickiness of prices in the market. Perfect chew for thought for both accounting novices and veterans!