Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 7 - Utility Maximization - Discussion Questions: 5

Answer

The answer is below.

Work Step by Step

While the choice to go to convenience stores has many benefits, the time saved is one key benefit. This time can presumably be used to do other activities, so it makes it beneficial for buyers to go to convenience stores if they do not need very much.
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