From an economic perspective, when consumers leave a fast-food restaurant because the lines to be served are too long, they have concluded that the
A)marginal cost of waiting is less than the marginal benefit of eating in that restaurant.
B)marginal cost of waiting is greater than the marginal benefit of eating in that restaurant.
C)management is exhibiting irrational behavior by not considering the marginal cost and the marginal benefit of standing in line by the consumer.
D)management is making an assumption that other things are equal.

Question

Quizplus · Accepted Answer

When consumers decide to leave a fast-food restaurant because the lines are too long, they have determined that the marginal cost (the time and inconvenience of waiting) exceeds the marginal benefit (the enjoyment and utility of eating at that restaurant). This is a basic economic decision-making process where individuals weigh the costs and benefits of a particular action.

From an Economic Perspective, When Consumers Leave a Fast-Food Restaurant