Menu costs are defined as the expenses associated with changing the prices of goods and services offered by a business or organization. Some synonyms for menu costs include price adjustment costs, pricing change expenses, and cost of price variation. Companies are typically hesitant to adjust their prices due to the high costs involved. Therefore, menu costs have a significant impact on the pricing strategies of businesses. Other synonyms for menu costs include costs of price changes, fixed costs of price changes, and price flexibility costs. Regardless of the terminology used, menu costs represent a significant challenge that businesses must navigate to remain competitive in today's marketplace.