The multidisciplinary field of microfluidics has shown great promise for research at the interface of biology, chemistry, engineering, and physics. Laminar flow, versatile fabrication, and small length scales have made microfluidics especially well-suited for single-cell characterization. In particular, the evaluation of single-cell growth rates is of fundamental interest for studying the cell cycle and the effects of environmental factors, such as drugs, on cellular growth. This work presents aspects in the development of a microfluidic cell impedance sensor for measuring the volumetric growth rate of single cells and covers its application in the investigation of a new discovery relating to multidrug resistance in S. cerevisiae. While there are many avenues for the utilization and interpretation of growth rates, this application focused on the quantitative assessment of biological fitness—an important parameter in population genetics and mathematical biology. Through a combination of growth measurements and optics, this work concludes a novel case of bet-hedging in yeast, as well as the first ever case of bet-hedging in eukaryotic multidrug resistance.