Illustrate wow about if full over the last month

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Q. Suppose elasticity of demand for your parking lot space is -0.5, and price is $20 per day. If our MC is zero, and your capacity at 9AM is 96% full over the last month, are you optimizing? Illustrate wow about if it is 75% full at 9 am?

Q. Do you know of any studies that show the elasticity of demand for parking when the delta in price is measured in $.50 units (increase or decrease), and if the baseline is $15 to $20?

Reference no: EM1353367

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