Suppose that the fine for illegally parking a car is ( 3,200) and that a fine amount

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Suppose that the fine for illegally parking a car is \(₹ 3,200\) and that a fine amount of ₹ 1,760 is sufficient for discouraging most people from parking their cars illegally. How high must the probability of being caught and fined be to discourage most illegal parking?

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Microeconomics

ISBN: 9781292215624

8th Global Edition

Authors: Jeffrey Perloff

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