If Parking Spaces on a College Campus Are Scarce, with Quantity

question 18

Multiple Choice

If parking spaces on a college campus are scarce, with quantity demanded during the "peak" hours, from 8 a.m. to 11 a.m., far greater than the number of spaces, an economist would propose as an efficient solution,

• A)lowering the parking fees during those hours to compensate students for the longer search time.
• B)charging the same parking fees during all hours of the school day.
• C)raising parking fees during the peak hours to encourage some students to schedule classes during other hours when parking fees are lower.
• D)hiring more security guards to patrol for illegal parkers.

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Definitions:

Aligning

The process of adjusting or arranging multiple elements in a straight line or in correct relative positions, often used in the context of strategic business decisions.

Powerful Individuals

Individuals who hold significant influence or authority within a particular context, often impacting decisions and outcomes.

Top-Management Commitment

The extent to which an organization's highest-level leaders are dedicated to and actively support the implementation of policies, practices, and goals.

Productivity Improvement

The process of increasing the efficiency and effectiveness of operations, resulting in higher output with the same or fewer resources.