A gasoline station very near a professional football stadium parks car to make money on game days. Last year it charged $4.00 per car and parked 1,000 cars. This year it raised the parking price to$ 6.00 and parked 800 cars. Calculate the total revenue. Did the station owner make a good economic decision in raising the parking prices from one year to the next?
A gasoline station very near a professional football stadium parks car to make money on game days. Last year it charged $4.00 per car and parked 1,000 cars. This year it raised the parking price to$ 6.00 and parked 800 cars. Calculate the total revenue. Did the station owner make a good economic decision in raising the parking prices from one year to the next?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter11: Marketing And Distribution
Section: Chapter Questions
Problem 22AA
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A gasoline station very near a professional football stadium parks car to make money on game days. Last year it charged $4.00 per car and parked 1,000 cars. This year it raised the parking
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