Traffic Increase in Travel Time Total Travel External Private Social Marginal Volume Trip Time Per Driver Time Trip Cost Trip Cost Trip Cost Benefit (vehicles) (minutes) (minutes) (minutes) ($) ($) ($) (Demand) 100 12 0 0 0 3.2 22.12 200 12 0 0 0 3.2 19.64 300 12.6 0.01 3 0.3 3.26 17.16 400 14 0.018 7.2 0.72 3.4 14.68 500 16.2 0.026 13 1.3 3.62 12.2 600 19.2 0.034 20.4 2.04 3.92 9.72 700 23 0.042 29.4 2.94 4.3 7.24 800 27.6 0.05 40 4 4.76 4.76 900 33 0.058 52.2 5.22 5.3 2.28 (a) Calculate the social trip cost at each traffic volume and fill in the blanks in the table. [10 pts] (b) What is the equilibrium traffic volume? [10 pts] (c) What is the socially optimal traffic volume? [10 pts] (d) What is the appropriate congestion tax? [5 points]