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- Discuss factors affecting the effectiveness of the cost analysis of transport markets.Suppose that a chemical manufacturing plant is releasing nitrogen oxides into the air, and these emissions are associated with health and ecological damages. Economists have estimated the following marginal costs and benefits for the chemical market, where Q is monthly output in thousands of pounds and P is price per pound. MSB = 50 – 0.4Q; MSC = 2 + 0.4Q; MEB = 0; MEC = 0.2Q. Find the dollar value of a product charge that would achieve an efficient solution.The per-week (inverse) demand for use of the Øresund Bridge between Denmark and Sweden is P = 13 − 0.15Q during peak traffic periods and P = 10 − 0.1Q during off-peak hours, where Q is the number of cars crossing the bridge in thousands and P is the toll in euros. If the marginal cost of using the bridge is MC = 5 + 0.2Q, what is the optimal peak load toll and off-peak load toll for crossing the bridge?
- Is the demand for public transit more responsive to price changes or service quality changes? Discuss the implication to transportation policies.Peak demand of transport refers to all of the following except which one? A. Time of the day B. Consumer income C. Day of the week D. Seasonal peakExplain why the demand of transport by manufacturing and constraction industries is a derived demand.
- Explain the role of government in setting transport laws.Demand and supply for television use (pay per view) by choice is described by the following demand and supply functions (v represents price per item) Demand = 198 - 2v Supply = -2 + 2v The world market price for TV use is € 30. Price per item. c) decision is now made to impose a 30% duty on the world market price of imports (foreign streaming services), but the government has now found that traditional duty can be collected through credit card companies transactions (no VAT). i) What will be the price, imports, demand and domestic supply. ii) What will be the macroeconomic loss due to duty compared to free trade without VAT?What are the external costs of heavy traffic?
