Structural Analysis
6th Edition
ISBN: 9781337630931
Author: KASSIMALI, Aslam.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Question
thumb_up100%
An existing toll road has an average traffic volume around 6,000 vehicles per day. A project is proposed to widen the toll road to increase the road capacity. It is projected that the traffic volume would increase to 10,000 vehicles if the toll rate is reduced from $5 to $4 per vehicle. Assume that the toll rate is the only factor affecting the traffic volume on the toll road.
a) Determine the impact of the toll change on consumer surplus.
b) Calculate the point elasticity of demand for the toll road.
c) Calculate the arc elasticity of demand for the toll road.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 4 steps with 5 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, civil-engineering and related others by exploring similar questions and additional content below.Similar questions
- What are the major types of data that are needed for freeway congestion management? Emphasize on recurrent, non-recurrent, and emergency-event induced freeway congestion.arrow_forwardA highway department is considering three alternative routes between two locations. The rate of interest is 8%.arrow_forwardA student records the number of vehicles that pass through a toll road lane, as shown in the following list Calculate: (a) what is the volume of vehicles per hour?arrow_forward
- A student records the number of vehicles that pass through a toll road lane, as shown in the following list Calculate: (b) what is the busiest current rate for each 5 minute period?arrow_forwardVehicles arrive at a toll booth with a mean arrival rate of 2 veh/min (the time between arrivals is exponentially distributed). The toll booth operator processes vehicles (collect tolls) at a uniform deterministic rate of one every 20 seconds. What is the average length of queue (in vehicles), time spent in the system and waiting time spent in the queue?arrow_forwardThe Department of Traffic is considering three improvement plans for a heavily traveled road within the city. The road improvement is expected to achieve three goals: improve travel speeds, increase safety, and reduce operating expenses for motorists. The annual dollar value of savings compared with existing conditions for each criterion and additional construction and maintenance costs is shown in Table 1. If the economic life of the road is considered to be 53 years and the discount rate is 4%, which alternative should be selected? Evaluate the two proposals based on economic evaluation criteria using the Net Present Worth (NPW) and benefit-cost ratio (BCR) methods for economic analysis.arrow_forward
- At exactly 8:00 AM, vehicles start to enter a single toll gate at a rate of 8 veh/min following a deterministic distribution. Due to the teller being late, the toll booth opened at 8:10 AM having a service rate of 10 veh/min following a deterministic distribution. What is the Maximum Queue Length in the system? o 70 vehicles o 90 vehicles o 80 vehicles o 60 vehiclesarrow_forwardhelp plsarrow_forwardA bridge has been constructed between the mainland and an island. The total cost (excluding tolls) to travel across the bridge is expressed as C- 50 + 0.5V, where V is the number of veh/hr and Cis the cost/vehicle in cents. The demand for travel across the bridge is V- 2500 - 10C. (a) Determine the volume of traffic across the bridge. (b) If a toll of 25 cents is added, what is the volume across the bridge? What volume would be expected with a 50 cent increase? 155 (c) A tollbooth is to be added, thus reducing the travel time to cross the bridge. The new cost function is C- 50 + 0.2V. Determine the volume of traffic that would cross the bridge. (d) Determine the toll to yield the highest revenue for demand and supply function in part (a), and the associated demand and revenuearrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Structural Analysis (10th Edition)Civil EngineeringISBN:9780134610672Author:Russell C. HibbelerPublisher:PEARSONPrinciples of Foundation Engineering (MindTap Cou...Civil EngineeringISBN:9781337705028Author:Braja M. Das, Nagaratnam SivakuganPublisher:Cengage Learning
- Fundamentals of Structural AnalysisCivil EngineeringISBN:9780073398006Author:Kenneth M. Leet Emeritus, Chia-Ming Uang, Joel LanningPublisher:McGraw-Hill EducationTraffic and Highway EngineeringCivil EngineeringISBN:9781305156241Author:Garber, Nicholas J.Publisher:Cengage Learning
Structural Analysis (10th Edition)
Civil Engineering
ISBN:9780134610672
Author:Russell C. Hibbeler
Publisher:PEARSON
Principles of Foundation Engineering (MindTap Cou...
Civil Engineering
ISBN:9781337705028
Author:Braja M. Das, Nagaratnam Sivakugan
Publisher:Cengage Learning
Fundamentals of Structural Analysis
Civil Engineering
ISBN:9780073398006
Author:Kenneth M. Leet Emeritus, Chia-Ming Uang, Joel Lanning
Publisher:McGraw-Hill Education
Traffic and Highway Engineering
Civil Engineering
ISBN:9781305156241
Author:Garber, Nicholas J.
Publisher:Cengage Learning