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Suppose there is a ten-kilometre-long two-lane highway from the suburbs to the city centre. It costs drivers twenty cents per kilometre in monetary costs plus
Suppose there is a ten-kilometre-long two-lane highway from the suburbs to the city centre. It costs drivers twenty cents per kilometre in monetary costs plus ten cents per minute in the (opportunity) cost of their time travelling. Therefore, the total cost of the trip depends positively on the travel time
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