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Business, 25.10.2019 03:43 mya6137

Alternatively, the city could hold the number of officers constant and discourage parking violations by raising the fine for illegal parking. suppose the average probability of getting caught for parking illegally is currently 20% citywide, and the average opportunity cost of parking is, again, $25. the fine that would make the average person indifferent between searching for parking and parking illegally is $ , assuming that people will not park illegally if the expected value of doing so is negative.

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