Retired persons travel by bus and automobile more frequently than do business executives, who more commonly use air travel. An economic explanation for this would be that
A) business executives have more time to travel.
B) it is more important for retired persons to save time.
C) business executives value their time more highly.
D) retired persons have more money than do business executives.

Question

Quizplus · Accepted Answer

Business executives often have higher opportunity costs for their time, leading them to choose faster modes of travel like air travel, whereas retired persons may prioritize cost savings over time savings.

Retired Persons Travel by Bus and Automobile More Frequently Than