2. (Process and financial flows) Acme Parking Garage charges cars a flat fee of $10 for...

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2. (Process and financial flows) Acme Parking Garage charges cars a flat fee of $10 for parking any duration, in addition to a variable prorated rate of $5 per hour (as an example, a car staying 1.5 hours would be charged $17.50). Suppose the total throughput is measured in units of cars per hour, and INV is the average number of cars in the garage. a. [1] Express the average hourly revenue as a function of and/or INV. Acme decides to start a valet service. They will charge a flat fee of $40 for valet parking (that is, they are not charged an hourly rate) and pay valet staff $5 per car they park. Suppose the total customer base remains the same as before (i.e., & is still the total throughput) but now 30% of all customers opt for the valet service. b. [2] Write the average hourly profit function (which excludes fixed costs, such as over-head and rent) as a function of and/or INV hourly and/or INV valet (where INV hourly and INV valet are the average number of hourly and valet cars parked in the garage, respectively.) 2. (Process and financial flows) Acme Parking Garage charges cars a flat fee of $10 for parking any duration, in addition to a variable prorated rate of $5 per hour (as an example, a car staying 1.5 hours would be charged $17.50). Suppose the total throughput is measured in units of cars per hour, and INV is the average number of cars in the garage. a. [1] Express the average hourly revenue as a function of and/or INV. Acme decides to start a valet service. They will charge a flat fee of $40 for valet parking (that is, they are not charged an hourly rate) and pay valet staff $5 per car they park. Suppose the total customer base remains the same as before (i.e., & is still the total throughput) but now 30% of all customers opt for the valet service. b. [2] Write the average hourly profit function (which excludes fixed costs, such as over-head and rent) as a function of and/or INV hourly and/or INV valet (where INV hourly and INV valet are the average number of hourly and valet cars parked in the garage, respectively.)