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Business, 12.03.2021 15:00 SKYBLUE1015
Imagine that Port Chester decides to crack down on motorists who park illegally by increasing the number of officers issuing parking tickets (thus, raising the probability of a ticket). If the cost of a ticket is $100, and the opportunity cost for the average driver of searching for parking is $25, which of the following probabilities would make the average person stop parking illegally?
a. 26%
b. 31%
c. 23%
d. 21%
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Answers: 2
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