Question: In the town of Freedonia, the government declares that all street parking must be free: There can be no parking meters. In an almost identical town of Meterville, parking costs $5 per hour (or $1.25 per 15 minutes).
a. Where will it be easier to find parking: in Freedonia or Meterville?
b. One town will tend to attract shoppers who hate driving around looking for parking. Which one?
c. Why will the town from part b also attract shoppers with higher incomes?