Half of the respondents polled in 10 cities said that traffic congestion increased their stress levels and
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Half of the respondents polled in 10 cities said that traffic congestion increased their stress levels and cut their productivity. IBM has been devising ways for cities to cut traffic congestion, such as automated tolling, congestion pricing plans and real-time traffic modeling. Commuters want more options to work from home and improved public transit.
a. Explain the problem of congested city streets that results in inefficient usage. Draw a graph to illustrate the inefficient equilibrium.
b. How could government policies be used to achieve an efficient use of city streets?
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a The problem of congested city streets that results in inefficient usage is associated with a concept in economics known as negative externality Nega...View the full answer
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