Related to the Economics in Practice on p.28: How did the introduction of the microwave in 1960 affect the market for frozen food?
A)It encouraged people to leave the work force by making cooking easier and less time-consuming.
B)It reduced the opportunity cost of eating frozen food by decreasing the amount of time required to prepare frozen meals.
C)It increased the financial cost of alternative methods of food preparation,such as conventional ovens.
D)It made frozen foods more appealing by increasing the variety of meals that could be frozen and reheated.

Question

Quizplus · Accepted Answer

The introduction of the microwave reduced the opportunity cost of eating frozen food since it decreased the amount of time required to prepare frozen meals. This made frozen food more appealing and accessible to consumers, which likely increased demand for frozen food products.

Related to the Economics in Practice on P