Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gridlock is an illustration of market disappointment that integrates both non-excludabilitv and externalitv. Public streets are normal asse that are accessible for the whole populace's

image text in transcribed
Gridlock is an illustration of market disappointment that integrates both non-excludabilitv and externalitv. Public streets are normal asse that are accessible for the whole populace's utilization {non-excludable}, and go about as a supplement to vehicles [the more streets there are, the more valuable vehicles become]. Since there is extremely.r minimal expense however high advantage to individual drivers in utilizing the streets. the streets become blocked, diminishing their handiness to society. Besides, driving can force stowed awav expenses on society:r through contamination {externalitv}. Answers for this incorporate public transportation, clog evaluating, tolls, and alternate approaches to causing me driver to remember the social expense for the choice to drivelE}

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

Step: 3

blur-text-image

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

Essential Criminal Law

Authors: Matthew Lippman

3rd Edition

154435598X, 978-1544355986

More Books

Students also viewed these Law questions

Question

Do I have evidence for this statement?

Answered: 1 week ago

Question

Under what circumstances do your customers write complaint letters?

Answered: 1 week ago