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Answer the following concerning highway pricing and traffic volume in the long run.
a) Draw the ATC curve for a 4 lane road and explain why it is U shaped in terms of the road cost effect and the trip cost effect.
b) How is the long run optimum traffic volume determined? Draw a graph and label the axes, the curves, and the long run optimum traffic volume.
c) On the same graph from (b) label the congestion tax that is necessary to achieve the long run optimum traffic volume. Label any new curves that need to be put in the graph.
Suppose you own a franchise of rental car bureaues in Florida. You recently get a report indicating that about 80% of all tourists visit Florida during winter months in any given year,
What's commonly used is a steam-driven catapult. Large pistons move within their cylinders, driven by steam pressure at one end, and tow the jet forward. Assume that the jet is brought from a stationary state to 159 mph in 2.15 seconds and that the..
Many colleges sell special cards that students can use to purchase everything from textbooks or meals in the cafeteria to use of washing machines in the dorm. Students deposit money in their cards; as they use their cards for purchases.
What is meant by stagflation. What economic circumstances might lead to a period of stagflation. In terms of the AD/AS model and/or the Phillips curve model, explain what is necessary to end a period of stagflation.
What type of externality (positive or negative) is present in each of the following examples? Is the marginal social benefit of the activity greater than or equal to the marginal benefit to the individual?
Provide a brief overview of the job evaluation process, including the importance of compensable factors. Detail the compensable factors of a position you are familiar with and their impact on that position's salary, and you may want to reference.
should owners use market research when making decisions about starting or expanding a business POLICY MAKER 1.Government policymakers may be elected politicians or appointed experts. Describe some of the specific decisions made by policymakers that..
given the following macroeconomic modely c i0 g0 equilibrium income yc a by-t consumption
There are only two polluting sources in the region, each of which generates 10 units of pollution for a total of 20 units released into the environment. The government determines that emissions must be reduced by 10 units across the region to achieve..
A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 books to total output.
explain the difference between a movement along a demand curve predicted by the law of demand and a shift of the whole
A consumer consumption set
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