Traffic congestion is an example of

Price makers do not have market power

Indicate whether the statement is true or false

A gasoline station very near a professional football stadium parks cars on its lot to make money on game days. Last year it charged $4.00 per car and parked 1000 cars. This year it raised the parking price to $5.00 and parked 850 cars. Did the station

owner make a good economic decision in raising the parking prices from one year to the next? Explain. Please provide the best answer for the statement.