Differences in the opportunity cost of time among consumers do not have any effect on consumption patterns.

Question

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Differences in the opportunity cost of time among consumers can have an effect on consumption patterns. Consumers with a higher opportunity cost of time may choose to consume goods or services that save them time, while consumers with a lower opportunity cost of time may choose to spend more time on activities that are less expensive but require more time. This can lead to differences in the types of goods or services that are in higher demand among these groups of consumers.

Differences in the Opportunity Cost of Time Among Consumers Do