Microeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (2nd Edition)
2nd Edition
ISBN: 9780134641904
Author: Daron Acemoglu, David Laibson, John List
Publisher: PEARSON
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Question
Chapter 3, Problem 6P
To determine
The most feasible and best position for seat and parking for Scott.
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Scott loves to go to baseball games, especially home games of the Cincinnatti Reds. All else equal, he likes to sit close to the field. He also likes to get to the stadium early to watch batting practice. The closer he parks to the stadium the more batting practice he is able to watch (the garages all open simultaneously).
Find Scott's optimal seat type and parking garage using the information that follows.
Location/Seat
Price
Scott's value of View
Diamond Seats
$231
$128
Club Home
91
123
Club seating
81
118
Scout Box
75
115
Scout
65
95
Parking Location
Parking Fee
Arrival Time
Missed Batting Practice
Benefit of Arrival Time
Westin parking garage
$6
6:20 PM
60 Min
$0
Fountain Sqaure South Garage
11
5:50 PM
50 Min
10
West river parking
18
5:25 PM
25 Min
35
East river parking
25
5:10 PM
10 Min
50
Under stadium parking
35
5:00 PM
0 Min
65
Scott's optimal seat type is....
Scott's optimal parking is....
Chapter 3 Solutions
Microeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (2nd Edition)
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