In the study of the demand for fast food, the female labor force participation rate was included as a measure of the:
A) travel distance and cost.
B) opportunity cost of time.
C) employment.
D) none of the above.

Question

Quizplus · Accepted Answer

The opportunity cost of time is the value of the time that a person could have spent working instead of doing something else, such as eating fast food. The female labor force participation rate is a measure of the percentage of women who are working or looking for work. This rate is a good measure of the opportunity cost of time for women, as it indicates how much time they have available to work.

In the Study of the Demand for Fast Food, the Female