When people spend their time standing in line- ups to acquire such things as a racquetball court, they are:
A)paying for an underpriced good with time rather than money.
B)spending more than the good is worth.
C)wasting the scarce resource of time.
D)just hanging around.

Question

Quizplus · Accepted Answer

When people spend their time standing in line to acquire goods or services, such as a racquetball court, they are essentially paying for an underpriced good with their time instead of money. This is because the good or service is priced lower than its market value, leading to excess demand and thus, long lines.

When People Spend Their Time Standing in Line- Ups to Acquire