If More People Join Carpools And Travel To Work Together?

When congestion occurs on the freeway because of a shortage of freeway space The Economist would most likely explain this by saying that it is because?

When congestion occurs on the freeway (because of a shortage of freeway space), the economist would say that it is because the price of driving on the freeway is below the equilibrium price.

The demand for seats in 10 a.m.

classes at the university is higher than the demand for seats in 8 a.m.

classes.

When the price of a good rises the demand for its complements will tend to rise?

If the price of a good falls, then the demand for its complements will increase. If the price of a good rises, then the price of its complements will rise.

What do the applications about freeway congestion and 10 am classes have in common?

What do the applications about freeway congestion and 10 a.m. classes have in common? Both deal with above-equilibrium prices and resulting shortages. Both deal with below-equilibrium prices and resulting shortages. Both deal with below-equilibrium prices and resulting shortages.

How does supply and demand work on freeways?

For highway travel, demand is determined as described above. The “supply” curve, however, is essentially represented by the generalized cost curve. The intersection of these two curves determines how high traffic volumes will be and what the associated average highway-user costs will be at that volume level.Travel

Leave a Reply

Your email address will not be published. Required fields are marked *