How would you explain to a friend why the optimal amount of freeway congestion is not zero?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Economics

ISBN: 978-0073511405

5th edition

Authors: Robert Frank, Ben Bernanke

See More Books

Question Posted: Dec 12, 2015 04:31 AM

See More Questions

How would you explain to a casual observer why high-yield bond returns are more correlated to common stock returns than to investment-grade bond returns?
How would you explain to a group of toplevel executives the relationship between marketorientation and continuous learning about markets?
How would you explain to a skeptical bank manager why the socially optimal number of bank robberies is not zero?
Consider an atom diffuses in a 3 D simple cubic lattice by a random walk mechanism. The atom jumps 6 x 1 0 - 5 times per second at 3 0 0 K and 3 x 1 0 4 times per second at 6 0 0 K . Assuming that...
Explain the idea of a bias and its ramifications.
The balance sheets of Pinewood Resorts reported net fixed assets of $740,000 and $940,000 at the end of 2010 and 2011, respectively. The fixed-asset turnover ratio for 2011 was 3.25. Calculate...
Suppose there is a risk-free asset with return Rf and a risky asset with return R. Consider an investor who maximizes expected end-of-period utility of wealth and who has CARA utility and invests w0....
The projections of direct materials purchases that follow are for the Stromboli Corporation. The company pays for 60percent of purchases on account in the month of purchase and 40 percent in the...
A bond that matures in 20 years has a coupon rate of 12.00% and pays interest semiannually. What is the value of this bond today if similar bonds have a 14.00% yield to maturity?
Rovio has shifted their products between games, activity parks, movies, licensing etc., how have they handled different steps in the entrepreneurial process?
What incentive problem explains why the freeways in cities like Los Angeles suffer from excessive congestion?
Why does the Great Salt Lake, which is located wholly within the state of Utah, suffer lower levels of pollution than Lake Erie, which is bordered by several states and Canada?
What part of the computer actually runs programs?
Contract for construction crew and equipment 8 Build parking lots Exterior lighting 11 7 20 12 Build foundation Start Interior Interior 12 9 electrical Final wiring finish Purchase 8 14 12 material...
Mad Hatter Enterprises purchased new equipment for $369,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax Freight costs Insurance while in...
Write down a C program that takes runs scored by a batsman and prints the status according to the following policy: Runs scored >80 50-79 30-49 10-29 <10 Grade Excellent 4 Very Good Good Average Poor
Consider the standard two-period maximization problem for investor j over s states of nature: Subject to S max u(c) + (s)u(c;}(s)) S=1 Cjo + q(s) C; (s) = Wjo +244) S=1 where all terms are as defined...
At what point should a leader cease gathering data, take the risk, and simply make the decision? Support your position.
Special cases of the SUR model with error component disturbances. Consider a set of two equations with one-way error components disturbances. (a) Show that if the variance-covariance matrix between...
On 1 July 2018, Parent Ltd acquired all the shares of Son Ltd, on a cum-div. basis, for $2,057,000. At this date, the equity of Son Ltd consisted of: $ 1,000,000 Share capital 500 000 shares...
Outline the major influences on the development of accounting practices from the earliest times to the present day.
A review of the jargon: Is the minimum wage a price ceiling or a price floor? What about rent control?
Business leaders often say that there is a shortage of skilled workers, and so they argue that immigrants need to be brought in to do these jobs. For example, an AP article was entitled New York...
Between 2000 and 2008, the price of oil increased from $30 per barrel to $140 per barrel, and the price of gasoline in the United States rose from about $1.50 per gallon to more than $4.00 per...
Crane, Inc., a resort management company, is refurbishing one of its hotels at a cost of $6,794,207. Management expects that this will lead to additional cash flows of $1,560,000 for the next six...
Match each of the following transactions with the applicable internal control principle that is being violated
Vaughn Company sells two types of pumps. One is large and is for commercial use. The other is smaller and is used in residential swimming pools. The following inventory data is available for the...

How would you explain to a friend why the optimal amount of freeway congestion is not zero?

Question:

Step by Step Answer:

Applying the CostBenefit Principle to the case of fre...View the full answer

Principles of Economics

Students also viewed these Economics questions