Scott loves to go to baseball games, especially home games of the Cincinnatti Reds. All else equal, he likes to sit close to the field. He also likes to get to the stadium early to watch batting practice. The closer he parks to the stadium the more batting practice he is able to watch (the garages all open simultaneously). Find Scott's optimal seat type and parking garage using the information that follows. Location/Seat Price Scott's value of View Diamond Seats $231 $128 Club Home 91 123 Club seating 81 118 Scout Box 75 115 Scout 65 95 Parking Location Parking Fee Arrival Time Missed Batting Practice Benefit of Arrival Time Westin parking garage $6 6:20 PM 60 Min $0 Fountain Sqaure South Garage 11 5:50 PM 50 Min 10 West river parking 18 5:25 PM 25 Min 35 East river parking 25 5:10 PM 10 Min 50 Under stadium parking 35 5:00 PM 0 Min 65 Scott's optimal seat type is.... Scott's optimal parking is....
Scott loves to go to baseball games, especially home games of the Cincinnatti Reds. All else equal, he likes to sit close to the field. He also likes to get to the stadium early to watch batting practice. The closer he parks to the stadium the more batting practice he is able to watch (the garages all open simultaneously). Find Scott's optimal seat type and parking garage using the information that follows. Location/Seat Price Scott's value of View Diamond Seats $231 $128 Club Home 91 123 Club seating 81 118 Scout Box 75 115 Scout 65 95 Parking Location Parking Fee Arrival Time Missed Batting Practice Benefit of Arrival Time Westin parking garage $6 6:20 PM 60 Min $0 Fountain Sqaure South Garage 11 5:50 PM 50 Min 10 West river parking 18 5:25 PM 25 Min 35 East river parking 25 5:10 PM 10 Min 50 Under stadium parking 35 5:00 PM 0 Min 65 Scott's optimal seat type is.... Scott's optimal parking is....
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Scott loves to go to baseball games, especially home games of the Cincinnatti Reds. All else equal, he likes to sit close to the field. He also likes to get to the stadium early to watch batting practice. The closer he parks to the stadium the more batting practice he is able to watch (the garages all open simultaneously).
Find Scott's optimal seat type and parking garage using the information that follows.
Location/Seat | Price | Scott's value of View |
Diamond Seats | $231 | $128 |
Club Home | 91 | 123 |
Club seating | 81 | 118 |
Scout Box | 75 | 115 |
Scout | 65 | 95 |
Parking Location | Parking Fee | Arrival Time | Missed Batting Practice | Benefit of Arrival Time |
Westin parking garage | $6 | 6:20 PM | 60 Min | $0 |
Fountain Sqaure South Garage | 11 | 5:50 PM | 50 Min | 10 |
West river parking | 18 | 5:25 PM | 25 Min | 35 |
East river parking | 25 | 5:10 PM | 10 Min | 50 |
Under stadium parking | 35 | 5:00 PM | 0 Min | 65 |
Scott's optimal seat type is....
Scott's optimal parking is....
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