Concept explainers
(a)
The volume of traffic across the bridge.
Answer to Problem 3P
The volume of traffic across the bridge is
Explanation of Solution
Given:
The total cost to travel across bridge except tolls is expressed as,
Here,
The demand to travel across the bridge is,
Calculations:
Calculate volume of traffic across the bridge.
The total cost to travel across bridge except tolls is,
The volume across the bridge is,
Solve Equations (I) and (II).
Conclusion:
Therefore, the volume of traffic across the bridge is
(b)
The volume of traffic across the bridge if a toll of
Answer to Problem 3P
The volume of traffic across the bridge if a toll of
Explanation of Solution
Concept used:
Write the expression to calculate the volume expected for a
Here,
Calculations:
Calculate volume of traffic across the bridge if toll is increased to
The new cost of the cost of travel across bridge is,
Substitute
Calculate volume of traffic expected for a
Substitute
Conclusion:
Therefore, the volume of traffic across the bridge if a toll of
(c)
The volume of traffic across the bridge.
Answer to Problem 3P
The volume of traffic across the bridge is
Explanation of Solution
Given:
The total cost to travel across bridge including toll is expressed as,
Calculations:
Calculate volume of traffic across the bridge.
Substitute
Conclusion:
Therefore, the volume of traffic across the bridge is
(d)
The toll to yield the highest revenue for demand and supply function and the associated demand and revenue.
Answer to Problem 3P
The toll which yield the highest revenue for demand and supply function is
Explanation of Solution
Concept used:
Write the expression to calculate the revenue generated.
Here,
Calculations:
Assume the toll rate as
The new cost of the cost of travel across bridge is,
Substitute
Substitute
From the above equation, the toll which would yield the maximum revenue is 100 cents or
Substitute
Calculate the demand for travel across the bridge for maximum revenue.
Substitute
Conclusion:
Therefore, the toll which yield the highest revenue for demand and supply function is
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Chapter 2 Solutions
EBK TRAFFIC AND HIGHWAY ENGINEERING
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- Traffic and Highway EngineeringCivil EngineeringISBN:9781305156241Author:Garber, Nicholas J.Publisher:Cengage Learning