4. Consider the following table and answer the questions. A J Volume 200 400 600 800 Trip Time 12.00 12.00 12.60 14.00 1,000 16.20 1,200 19.20 1,400 23.00 1,600 27.60 1,800 33.00 2,000 39.20 Increase in Travel Time per Driver 0 0 0.005 0.009 0.013 0.017 0.021 0.025 0.029 0.033 Increase in total Travel Time 0 0 3.00 7.20 13.00 20.40 29.40 40.00 52.20 66.00 External Trip Cost 0 0 0.30 0.72 1.30 2.04 2.94 4.00 5.22 6.60 Private Trip Cost 3.20 3.20 3.26 3.40 3.62 3.92 4.30 4.76 5.30 5.92 Social Trip Cost 3.20 3.20 3.56 4.12 4.92 5.96 7.24 8.76 10.52 12.52 Marginal Benefit (demand) 22.12 19.64 17.16 14.68 12.20 9.72 7.24 4.76 2.28 The equilibrium traffic volume (number of vehicles) is The optimal volume is The optimal congestion tax is The equilibrium volume exceeds the optimum volume because ...

4. Consider the following table and answer the questions. A J Volume 200 400 600 800 Trip Time 12.00 12.00 12.60 14.00 1,000 16.20 1,200 19.20 1,400 23.00 1,600 27.60 1,800 33.00 2,000 39.20 Increase in Travel Time per Driver 0 0 0.005 0.009 0.013 0.017 0.021 0.025 0.029 0.033 Increase in total Travel Time 0 0 3.00 7.20 13.00 20.40 29.40 40.00 52.20 66.00 External Trip Cost 0 0 0.30 0.72 1.30 2.04 2.94 4.00 5.22 6.60 Private Trip Cost 3.20 3.20 3.26 3.40 3.62 3.92 4.30 4.76 5.30 5.92 Social Trip Cost 3.20 3.20 3.56 4.12 4.92 5.96 7.24 8.76 10.52 12.52 Marginal Benefit (demand) 22.12 19.64 17.16 14.68 12.20 9.72 7.24 4.76 2.28 The equilibrium traffic volume (number of vehicles) is The optimal volume is The optimal congestion tax is The equilibrium volume exceeds the optimum volume because ...

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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