Wealthy professors are more likely to shop at high end stores with shorter wait times at the cashier than poor students because

Question

​Wealthy professors are more likely to shop at high end stores with shorter wait times at the cashier than poor students because

Quizplus · Accepted Answer

The opportunity cost of waiting in a cashier line is the value of the next best alternative that is forgone as a result of choosing to wait in line. Wealthy professors have a higher opportunity cost of waiting in the cashier line because they could be using their time to do something more valuable, such as working or conducting research. Therefore, they are more likely to shop at high-end stores with shorter wait times at the cashier.

​Wealthy Professors Are More Likely to Shop at High End

Wealthy Professors Are More Likely to Shop at High End