Suppose Your University Decides to Increase Parking Fees in Order

question 46

Multiple Choice

Suppose your university decides to increase parking fees in order to deal with the shortage of parking spaces.Nevertheless, the president of your student body convinces the university to pay back the amount spent on higher parking fees to students in the form of a rebate at the end of the school year.Therefore, the increase in parking fees will:

• A)NOT solve the parking shortage
• B)Reduce demand for parking and hence alleviate the parking shortage
• C)Will have no effect since it will be offset entirely by the rebate
• D)Make the parking shortage even worse

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Definitions:

Ethical

Pertaining to or dealing with morals or the principles of morality; adhering to the standards of what is right or just in behavior.

Unethical

Not conforming to approved standards of social or professional behavior; acting against moral principles.

Subjective Probabilities

Are personal judgments or beliefs about the likelihood of certain outcomes, often based on individual experience or intuition rather than objective data.

Mathematically

Pertaining to the use, study, or application of mathematics.