Question

Restaurants, bars, and convenience stores are often located near college campuses. These businesses frequently charge higher than normal prices. They are taking advantage of the fact that students Group of answer choices place a high value on their scarce time and are willing to pay higher prices than they would at locations farther from campus. are unable to pay higher prices than the rest of the population, but they are able to succeed because they can sell to a large number of people. place a low value on their scarce time and are willing to pay higher prices than they would at locations farther from campus. place a high value on their scarce time and are unwilling to pay higher prices. are able to pay higher prices than the rest of the population, so the businesses can charge higher prices than they otherwise would have been able to charge.

Answer 1

place a high value on their scarce time and are willing to pay higher prices than they would at locations farther from campus

Step-by-step explanation:

People generally place greater value on those goods and services that have more scarcity. The students faces time scarcity as they dont have much time to visit the restaurants, bars etc so they prefer to purchasing the items from the stores that are near by their campus

So the businesses would take advantage of it and thatswhy they charged high amount from the students