It usually takes less time to buy a sixpack of 7Up, a loaf of bread, and a halfgallon of ice cream at a small convenience store (such as a 7Eleven) than at a large, fullservice grocery store. Which of the following persons is most likely to buy these items at a convenience store?
A. a person with a high opportunity cost of time
B. a person with a low opportunity cost of time
C. a person who is out of work
D. a person who works at a fullservice grocery store
Answer:A
It usually takes less time to buy a sixpack of 7Up, a loaf of bread, and a halfgallon of ice cream at a small convenience store (such as a 7Eleven) than at a large, fullservice grocery store. Which of the following persons is most likely to buy these items at a convenience store?
A. a person with a high opportunity cost of time B. a person with a low opportunity cost of time C. a person who is out of work D. a person who works at a fullservice grocery store