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  3. 38 part 1 introduction an island the total cost ex...

Question: 38 part 1 introduction an island the total cost ex...

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38 Part 1 Introduction an island. The total cost (ex- 23 A bridge has constr been constructed between the mainland and cluding tolls) to travel across the bridge is expressed as C 50 + 0.5V, wh number of veh/h and Cis the cost/vehicle in cents. The demand for travel across the bridge s 2500 10C A bridge has (a) Determine the volume of traffic across the bridge. (b) If a toll of 25 cents is added, what is the volume across the bridge? (c) A tollbooth is to be added, thus reducing the travel time to cross the bridge. The new cost function is C bridge Determine the toll to yield the highest revenue for demand and supply function in nart (a), and the associated demand and revenue. 50 + 0.21. Determine the volume of traffic that would cross (d)
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