Friday, October 28, 2011
Last week Prof. M was heading uptown Manhattan. He parked his car at 87th street and 2nd avenue at a lot that charges $10.50 for the first hour and a certain amount for each fractional hour thereafter. He remembers paying $33 for about 3.5 hours of parking. This week he was heading uptown again and decided to park for 4.5 hours two blocks before 87th street at a lot that charges $9.50 for the first hour and $6.50 for each fractional hour thereafter. Assume it would have cost him $0.25 to drive up to 87th street. Did Prof. M saved any money by not driving to 87th street?