Question
propose four actions that would reduce total demand for parking on university campus.For example: relate your proposed action to movements along a demand curve in
propose four actions that would reduce total demand for parking on university campus.For example: relate your proposed action to movements along a demand curve in response to price, shifts in the demand curve due to changing tastes and preferences or the availability and costs of substitutes etc
(a) An effective way to encourage bicycle use by providing the free rental bicycles to travel to and around campus, this provides eco-friendly, emissions-free ride, and health benefits. Pressure and demand for parking space will reduce as student will prefer to use bicycles and the demand curve will shift.
Question ( Which way would the demand curve shift left or right )for above
(b) The university could also offer vouchers and benefits to those students who are ready to give up the facility of parking.This can include discounts to shops, free emergency rides, providing some public transport passes at a discount price.Demand curve will shift.
Question ( which way will the demand curve shift left or right) for above
Provide shuttle buses to and from the university campus:
The university could arrange for some common vehicles like shuttles for its employees and students. It would be an alternative for travelling.Thismight shift employees' and students preferences and the demand for parking spaces will decrease.The demand curve will shift due to free shuttle services.
Question (which way will the demand curve shift left or right) for above
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started