5. Many local governments use parking meters on crowded downtown streets. However, the parking spaces along the
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5. Many local governments use parking meters on crowded downtown streets. However, the parking spaces along the street are typically hard to fi nd because the metered price is often set below the market price. Explain what happens when local governments set the meter price too low. Why do you think the price is
*See: www.census.gov/hhes/www/poverty/data/threshld/index.html set below the market-clearing price?
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