Price elasticity by the hour of day. Average parking occupancy rates of 2011 (i.e., after the rate change) in neighborhoods with a decrease, no change and an increase in rates are also displayed in this figure. Hour of the day 0.0 10 11 12 13 -0.1 E -0.2 a $ -0.3 t -0.4 c 1 -0.5 t Y -0.6 -0.7 -0.8 -0.9 60 16 50 40 30 20 8 10 0 Decrease price elasticities model 1 -Decrease neighborhoods' occupancy in 2011 No price change neighborhoods' occupancy in 2011 Increase price elasticities model 1 Increase neighborhoods' occupancy in 2011 Based on the figure showing estimated elasticities after the price increase, what times of day have the most elastic parking demand? Why do you think this is the case? Explain.