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 $233 $140 Club Home 93 135 Club Seating 83 130 Scout Box 77 125 Scout 67 105 Parking Location Parking Fee Arrival Time Missed Batting Practice Benefit of Arrival Time Westin parking garage $6 6:20 PM 60 min $0 Fountain Square 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 ▼ Diamond Seats Scout Club Home Club Seating Scout Box . Scott's optimal parking is ▼ West river parking Fountain Square South Garage Westin parking garage Under stadium parking East river parking
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 $233 $140 Club Home 93 135 Club Seating 83 130 Scout Box 77 125 Scout 67 105 Parking Location Parking Fee Arrival Time Missed Batting Practice Benefit of Arrival Time Westin parking garage $6 6:20 PM 60 min $0 Fountain Square 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 ▼ Diamond Seats Scout Club Home Club Seating Scout Box . Scott's optimal parking is ▼ West river parking Fountain Square South Garage Westin parking garage Under stadium parking East river parking
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
|
|
Scott's Value of View
|
Diamond Seats
|
$233
|
$140
|
Club Home
|
93
|
135
|
Club Seating
|
83
|
130
|
Scout Box
|
77
|
125
|
Scout
|
67
|
105
|
Parking
Location
|
Parking
Fee
|
Arrival
Time
|
Missed Batting
Practice
|
Benefit of
Arrival
Time
|
Westin parking garage
|
$6
|
6:20 PM
|
60 min
|
$0
|
Fountain Square 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
.
▼
Diamond Seats
Scout
Club Home
Club Seating
Scout Box
Scott's optimal parking is
.
▼
West river parking
Fountain Square South Garage
Westin parking garage
Under stadium parking
East river parking
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