Multiple Choice
Which of the following statements is true?
A) Optimizers with the highest opportunity cost of time push up the rental price of apartments with the highest commute time.
B) Optimizers with the lowest opportunity cost of time push up the rental price of apartments with the lowest commute time.
C) As the rental prices of downtown apartments rise, only workers with the highest opportunity cost of time will be willing to rent them.
D) As the rental prices of downtown apartments rise, only workers with the lowest opportunity cost of time will be willing to rent them.
Correct Answer:
Verified
Correct Answer:
Verified
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