Armando is comparing parking prices at a local concert, One option is a $7 fee plus $2 per hour. A second option is a $5 entry fee plus $3 per hour. What is the break-even point (intersection) for the two options? Which option do you think is better?
1 Answer
Break even among these two options is 2 hours concert.
For shorter then 2 hours concerts the second option is better,
For longer than 2 hours concerts the first option is better.
Explanation:
Assume a concert lasts
Parking price, according to the first option, will be
According to the second option, it will be
Both are linearly dependent on the length of a concert.
If
For, say, ten and more hours the first option is, obviously, cheaper.
The options are equivalent for some length of a concert if
its solution is
So, for less than
For
For greater than 2 hours concert the first option is better.
