Suppose your elasticity of demand for your parking lot spaces is –2, and price is $8 per day. If your MC is zero, and your lot is 80% full at 9 A.M. over the last month, are you optimizing?
Suppose your elasticity of demand for your parking lot spaces is –2, and price is $8 per day. If your MC is zero, and your lot is 80% full at 9 A.M. over the last month, are you optimizing?
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 3SQP
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Suppose your elasticity of
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