For your senior thesis, you polled your classmates, asking them, "How much would you be willing to pay to double the amount of parking on campus?

For your senior thesis, you polled your classmates, asking them, “How much would you be willingto pay to double the amount of parking on campus?” Based on their responses, you estimated thatyour fellow students were collectively willing to pay $12 million to double the amount of on campusparking. What are some problems with this type of analysis?