A consumer purchases a book by driving across town to a bookstore,standing in line for five minutes to pay the cashier,and then pays $5.The same book is purchased by another consumer who spends two minutes placing the order over the Internet for $10.The book necessarily cost the first consumer less.

Question

Quizplus · Accepted Answer

The opportunity cost of driving across town and standing in line may have raised the total cost of the book to the first consumer to more than $10.

A Consumer Purchases a Book by Driving Across Town to a Bookstore,standing