Critically evaluate the following statement. It's better to make ...

[ghost!]

Critically evaluate the following statement. It's better to make people wait in line than it is to make them have to pay more for the product.
 
  What will be an ideal response?

Question 2

An increase in the purchasing power of money would not, on average, result in an increase in the purchasing power of people's income because a ________ price level would likely mean ________ wages and salaries.
 
  A) falling; rising B) rising; falling C) falling; falling D) rising; rising

[bitingbit]

Answer to Question 1

The true cost of purchasing anything is not just the price paid for the product or the service but the opportunity cost of time for the consumer. Making people wait in line may actually increase the total cost of acquiring the good beyond what the customer may have paid if the price had risen to its equilibrium level.

Answer to Question 2

C

[ghost!]

Great answer, keep it coming

[elyse44]

Thanks for the timely response, appreciate it