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The graph illustrates the overuse of London roads, assuming that there is no fee to enter London in a vehicle and that roads are a
The graph illustrates the overuse of London roads, assuming that there is no fee to enter London in a vehicle and that roads are a common resource.
a. In February 2003, the city of London began charging a 5 congestion fee on all vehicles traveling in central London. Move the endpoints of the supply curve, S5 fee, to illustrate the effects of this congestion charge.
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