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.
Correct Answer:

Verified
Correct Answer:
Verified
Q5: In a free market, economic activity is
Q21: Explain how the free-market mechanism adjusts prices
Q29: To be efficient, outputs should be produced
Q130: The term "laissez-faire" was given to a
Q177: MC and MU are set equal to
Q183: In a market system, prices are used
Q191: For any combination or outputs, there is
Q216: The technique called input-output analysis was invented
Q236: Laissez-faire refers to a program of minimal
Q251: If the MU of half gallon of