45-cent pizza: a cost-benefit analysis
Price of a slice of cheese pizza on Ray’s Pizza’s 45th anniversary: 45 cents
Regular price of a slice of cheese pizza at Ray’s Pizza: $2.50
Savings per slice on Ray’s Pizza’s 45th anniversary: $2.05
Length of wait in line: roughly 40 minutes
Hourly wage needed in order to make saving $2.05 worth 40 minutes of waiting in line: $3.08 (less than half of New York’s minimum wage)
At minimum wage, number of slices needed in order to justify 40 minutes of waiting in line: 3
Based on New York City median income, number of slices needed in order to justify 40 minutes of waiting in line: 8
Average number of slices each customer carried out (based on one minute of observation): 2
Number of people who were wasting their time in this line: all of them, except that one homeless guy who usually hangs out on the corner
This entry was posted on Wednesday, September 30th, 2009 at 2:55 pm and is filed under Food and Booze. You can leave a response, or trackback from your own site.
September 30th, 2009 at 3:21 pm
Alex says:Went to the Ray’s around the corner from me. 5 minute wait at most.
October 29th, 2009 at 5:57 pm
hollywood sucker says:Opportunity costs.