Each morning during rush hour, 10,000 people want to travel from New Jersey to New York City. If a person takes the commuter train, the trip lasts 40 minutes. If x thousand people per morning drive to New York, it takes 20 + 5x minutes to make the trip. This problem illustrates a basic fact of life: If people make their decisions individually, they will cause more congestion than is actually necessary. a. On average, how many thousands of people will travel by road from New Jersey to New York, if people make their decisions individually? If needed round your answer to the nearest integer. Here you should assume that people will divide up between the trains and roads in a way that makes the average travel time by road equal to the travel time by train. When this "equilibrium" occurs, nobody has an incentive to switch from the road to the train or vice versa. 1.Number of drivers (thousands): 2. How does the answer change if people travel by road? A number of drivers (thousands):
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Each morning during rush hour, 10,000 people want to travel from New Jersey to New York City. If a person takes the commuter train, the trip lasts 40 minutes. If x thousand people per morning drive to New York, it takes 20 + 5x minutes to make the trip. This problem illustrates a basic fact of life: If people make their decisions individually, they will cause more congestion than is actually necessary. a. On average, how many thousands of people will travel by road from New Jersey to New York, if people make their decisions individually? If needed round your answer to the nearest integer. Here you should assume that people will divide up between the trains and roads in a way that makes the average travel time by road equal to the travel time by train. When this "equilibrium" occurs, nobody has an incentive to switch from the road to the train or vice versa.
1.Number of drivers (thousands):
2. How does the answer change if people travel by road? A number of drivers (thousands):
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