--%>
Assignment Help - homework help

Pricing for profit-car parking

The owner of a city centre car park desires to know the best price to charge for parking throughout office hours on weekdays. On a usual weekday, the car park is at present only half full.

E

Expert

Verified

Consider the significance of marginality in maximizing the profit whenever demand varies and costs are mainly fixed.

   Related Questions in Microeconomics

  • Q : Monopolist of profit maximizing When

    When this is feasible for total revenue to cover all variable costs, in that case a profit maximizing monopolist will generate: (w) where marginal revenue equals marginal costs [MR = MC]. (x) in the inelastic portion of the demand cur

    		•
  • Q : Operation in the short run of fixed

    The curves demonstrated in this figure reflect that: (i) operation in the short run since fixed costs can be measured in the graph. (ii) a disequilibrium that will force some competitors to exit this market. (iii) how firms innovate new technologies in response to pro

    		•
  • Q : Market demand of purely competitive

    How purely competitive industries respond to raises in market demand depends upon: (w) the time period considered. (x) immediate quantity adjustments and longer run price adjustments. (y) each firm’s average total costs. (z) the slope of the mar

    		•
  • Q : Comparative advantage of growing fruits

    The Oranges are grown-up in Florida and potatoes are grown up in Maine mainly as: (i) There is no orange-grower’s lobby in the Maine to save from harm and Maine oranges from the unfair competition. (ii) Potatoes are not eaten in the Florida. (iii) Maine consists

    		•
  • Q : Union Shop Agreements The union shop

    The union shop agreement needs that the worker: (1) Join the labor union prior to beginning to work. (2) Pay union dues even when selecting not to join union. (3) Join the union soon subsequent to being hired. (4) Freely select to join or not join union.

  • Q : How is Economic policy more scientific

    Which of the given LEAST describes the widespread but erroneous view which economists seldom agree: (1) The media focuses upon controversy, not agreement. (2) Political considerations, more than economic logic, find out policies. (3) Some economists may feel obligated

    		•
  • Q : Oligopolistic markets in equilibrium

    Oligopolistic markets in equilibrium are described by: (w) a large number of sellers of homogeneous output. (x) monopolistic sellers dealing along with only some buyers. (y) a small number of sellers of close substitutes. (z) socially optimal amounts

    		•
  • Q : Similarity between pure monopoly and

    The demand curve facing a pure monopoly is similar to the: (w) sum of demand curves which face pure competitors. (x) "kinked" demands at the going market price. (y) the market demand curve for its product. (z) the firm's marginal reve

    		•
  • Q : Effect of prices declining in

    Can someone please help me in finding out the precise answer from the following question. Americans would start cultivating bigger, greener lawns when the: (i) Prices of the fertilizer and water declined. (ii) Government imposed stricter safety standards for the lawn

    		•
  • Q : Follow Lower Bond Price Lower bond

    Lower bond prices follow through higher: (w) interest rates. (x) real estate speculation. (y) present value of future income by the bonds. (z) growth rates of national income. Please choose the right answer from ab

    		•