Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

17 - 20. Use Tables 1 and 2 to answer multiple choice questions 19 - 22. Tables 1 and 2 will also be used for

image text in transcribedimage text in transcribed
17 - 20. Use Tables 1 and 2 to answer multiple choice questions 19 - 22. Tables 1 and 2 will also be used for question 23 in Part II. Consider the example of train whistles and a school. Trains that enter Middlesville are required to blow a whistle and warn motorists and pedestrians to stay clear of the railroad tracks. Assume that the only people that are negatively affected by these train whistles are at Middlesville Central School. During a school day ten trains will pass by the school, blow the whistle and disrupt class. Further assume that the disruption caused by the first whistle is minor. But the marginal disruption caused by the second train whistle is larger than the first. And each successive train whistle brings greater marginal disruption than the last as presented in Table 1. Suppose that there is an alternative route for trains around Middlesville which would eliminate the disruption caused by the train whistles. Using this alternative route would imply additional costs to the railroad. Further assume that because of scheduling conflicts, the marginal cost of reducing the train noise from rerouting the train increases with each train that is rerouted, as presented in Total Costs in Table 2.b) Suppose the Middlesville Central School negotiates with the railroad and agrees to pay them to reroute trains. Present in a graph the total costs of disruption at the school and the total costs of rerouting trains that you would expect after a successful negotiation. Please label axis. Please indicate the optimal level of trains passing and trains rerouted

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Climate Policy And Nonrenewable Resources The Green Paradox And Beyond

Authors: Karen Vollebergh, Rick Van Der Ploeg

1st Edition

0262319845, 9780262319843

More Books

Students also viewed these Economics questions

Question

Discuss the reasons for using lifo in an inflationary economy.

Answered: 1 week ago

Question

8. What are the costs of collecting the information?

Answered: 1 week ago

Question

1. Build trust and share information with others.

Answered: 1 week ago