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The George Washington Bridge in New York City has two decks, the upper and the lower deck. Thousands of commuters into and out of New York City have to choose between them every day. The lower deck was originally intended for local traffic, so the approaches to it from the superhighways are a little less convenient. Let q be the proportion of all commuters who choose the upper deck and suppose that the time required to cross by the upper deck is T1 = 5+3q While the time required to cross the lower deck is T2 = 9.55-4q
Analyze this as an N-person game. Keep in mind that in this case, the time spent crossing the bridge is a penalty, not a payoff.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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