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
Traffic And Highway Engineering
- The demand and supply function for a bridge are the following where C is cost in cents and V is volume in veh / h . Demand V = 1500 - 10C Supply or cost function: C = 120 + 0.5V (a) What is the equilibrium volume of traffic and the associated cost? (b) 20 cents of toll is added to the cost function, what will be the new cost function and the equilibrium volume?arrow_forwardA toll bridge carries 10,000 veh/day. The current toll is $3.00/vehicle. Studies have shown that for each increase in toll of 50 cents, the traffic volume will decrease by 1000 veh/day. It is desired to increase the toll to a point where revenue will be maximized. Let V be the Volume X be the increase in toll charge (a) Write the expression for travel demand on the bridge related to toll increase and current volume. (b) Determine the increase in toll charge (c) Determine the new toll charge to maximize revenues. (d) Determine traffic in veh/day after toll increase. (e) Determine total revenue increase with new toll.arrow_forwardConsideration is being given to increasing the toll on a bridge now carrying 4500 veh/day. The current toll is $1.35/veh. It has been found from past experience that the daily traffic volume will decrease by 400 veh/day for each 25¢ increase in toll. Therefore, if x iš the increase in toll in cents/veh, the volume equation for veh/day is V= 4500 - 400 (x/25), and the new toll/veh would be T = 135 + x. In order to maximize revenues, what would the new toll charge be per vehicle, and what would the traffic in veh/day be after the toll increase?arrow_forward
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- Traffic and Highway EngineeringCivil EngineeringISBN:9781305156241Author:Garber, Nicholas J.Publisher:Cengage Learning