ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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1: Given that the value of time is $1.5 per minute, justify the proposal.

 

2: To what value of the construction cost would the proposal become justified?

City A has a travel demand function q
2.0 x 106 – 5000t, and road performance function
I|
t1
= 50 + 8 x 10-5q, where t is in minutes. There is a proposal to expand the road such that
the road performance function will become t2
30 + 5 x 10-5q, with a construction cost
%3D
of $9.6 x 107.
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Transcribed Image Text:City A has a travel demand function q 2.0 x 106 – 5000t, and road performance function I| t1 = 50 + 8 x 10-5q, where t is in minutes. There is a proposal to expand the road such that the road performance function will become t2 30 + 5 x 10-5q, with a construction cost %3D of $9.6 x 107.
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