Solution-Budgetary costs and opportunity costs of the

Budgetary costs and opportunity costs of the project

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Reference no: EM132592645

A city XYZ is considering plan to expand capacity along existing tollroads and build new roads as well. Once complete, the projects will decrease congestion and save travel time, but consumers will pay higher tolls to fund the project.

Assuming that the labor market for road construction workers is competitive and that labor supply is not perfectly elastic, use a graph to illustrate the budgetary costs and opportunity costs of the project. Label all relevant points and areas.

Do budgetary outlays overstate, understate, or equal opportunity costs?

Reference no: EM132592645

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Budgetary costs and opportunity costs of the project

Reference no: EM132592645

Reference no: EM132592645

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