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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.
Treating the marginal cost curve as the “supply curve” and using the given demand curve,what price and quantity would a competitive market give?
The market for a standard-sized cardboard container comprises two firms: BooBox and Flimflax. As manager of BooBox you enjoy patented technology which permits your company to produce boxes faster and at lower cost than Flimflax.
a university spent 1.8 million to install solar panels atop a parking garage. these panels will have a capacity of 500
a soft-drink bottler collected the following monthly data on its sales of 12-ounce cans at different prices.month 1 2 3
Is First Amendment free speech protection only afforded to the spoken word? Explain. 2. The 2007 PwC Report suggested three things companies could do to minimize accounting fraud. Discuss these suggestions. 3. Describe the three types of negligence c..
In today's economic climate, retailers are continuously conducting sales in order to get customers in their doors. Analyze the short-term and long-term effects of continuous sales to all stakeholders.
Consider an HMO with a demand curve of the following form: Q=100-2P. Suppose that its marginal and average costs were $20. If the firm maximizes profits, determine its price, output, and profits. If the firm must act as a perfect competitor, in the l..
Which arguments might each dismiss?
economists often study and evaluate economic policies by country or region. as an economist evaluate different regional
What is the price elasticity of demand? Provide four reasons why the demand for medical services is likely to be inelastic with respect to its price.
two alternative replacement machines are being consided to replace a current one. machine a has a first cost of 75200
A formal statement that defines how an organization expects and requires employees to resolve ethical questions is a When a publicly traded firm is suspected of unethical or illegal behavior, the will conduct an investigation
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