The graph below shows the dsily demand for entry into the downtown core of a major city by commuter vehicles and shoppers'vehicles if they were required to pay a special traffic fee in order to enter.a. Draw the total demend curve. Plot only three points of the curve.CommutersShoppers28ToolsTotal demand20161212243648607284Number of vehicles per day (tens of thousands)b. Assuming that there is no charge for entry, what is the total number of vehicles entering downtown? (Give your answers in tens ofthousands of vehicles.)Quantity of vehicles:c. Suppose that government, in an effort to reduce the number of vehicles by 50 percent, decides to impose a traffic fee (the seme feefor both commuters and shoppers) for entry into the downtown areo. What will be the amount of the fee, and how many of each groupwill enter downtown?Fee: $Number of commuter vehicles:Number of shoppers'vehicles:d. Assume that government, alternatively, decides to have a two-fee system but still wishes to reduce the traffic by 50 percent of theno-fee entry level. If it decides to charge shoppers $4, how much will it have to charge commuters?Fee to commuters: $Traffic fee24

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The graph below shows the daily demand for entry into the downtown core of a major city by commuter vehicles and shoppers" vehicles if they were required to pay a special traffic fee in order to enter a Draw the total demand curve. Plot only three points of the curve. Commuters Shoppers 28 Tools 24 Total demand 20 16 12 24 36 48 60 72 B4 12 Number of vehicles per day (tens of thousands) b. Assuming that there is no charge for entry. what is the total number of vehicles entering downtown? (Give your answers in tens of thousands of vehicles.) Quantity of vehicles: c. Suppose thet govermment, in an effort to reduce the number of vehicles by 50 percent, decides to impose a traffic fee (the same fee for both commuters and shoppers) for entry into the downtown area. What will be the amount of the fee, and how many of esch group will enter downtown? Fee: S Number of commuter vehicles: Number of shoppers'vehicles: Traffic fee 00

The graph below shows the daily demand for entry into the downtown core of a major city by commuter vehicles and shoppers" vehicles if they were required to pay a special traffic fee in order to enter a Draw the total demand curve. Plot only three points of the curve. Commuters Shoppers 28 Tools 24 Total demand 20 16 12 24 36 48 60 72 B4 12 Number of vehicles per day (tens of thousands) b. Assuming that there is no charge for entry. what is the total number of vehicles entering downtown? (Give your answers in tens of thousands of vehicles.) Quantity of vehicles: c. Suppose thet govermment, in an effort to reduce the number of vehicles by 50 percent, decides to impose a traffic fee (the same fee for both commuters and shoppers) for entry into the downtown area. What will be the amount of the fee, and how many of esch group will enter downtown? Fee: S Number of commuter vehicles: Number of shoppers'vehicles: Traffic fee 00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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al E G answer 201-R C Use the Chris B Chris B Checko Ticket New T M You Ge ah Search Question 13 0/48 answered Please review the graph below containing a demand curve for hammocks. Between point B and C, using the midpoint formula, the elasticity coefficient is: $140 $120 $100 $80 $60 $40 $20 Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a 0.25 b 4.0 10 C 0.40 d 0.10 Question 14 Time Rema Demand 50 100 150 200 250 300 350 Quantity of Hammocks Demanded 口 ធ
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