=+individual drivers but not the inconvenience they cause to others.) In February 2003, the city of London

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=+individual drivers but not the inconvenience they cause to others.) In February 2003, the city of London began charging a £5 congestion fee on all vehicles traveling in central London. Illustrate the effects of this congestion charge on your graph and label the new equilibrium point. Assume the new equilibrium point is not optimally set (that is, assume that the £5 charge is too low relative to what would be efficient).

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Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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