Employment location at an average travel speed

Assignment Help Business Economics
Reference no: EM131424052

A transit line is to be constructed so that people living in a 200-km-long, narrow corridor can be transported to a single employment location at the end of this corridor. The transit vehicles will transport commuters to the employment location at an average travel speed of 40 km/hr for a (flat) fare of $5 per trip. People value their time at $20/hr.

Part a 

Adults living in this corridor would derive a daily economic benefit of $50 by commuting (one-way) on this system. Determine a suitable length, L, for this transit line, recognizing that there is no need to extend the line beyond a distance that people are willing to travel.

Part b  can be solved without solving part a]

A small community of 200 adults living outside the transit corridor would derive daily economic benefits from using the transit system. We assume these benefits are logistically distributed with average a. These 200 adults also value their time at $20/hr and they face an added cost of spending 0.25 hrs traveling by shuttle bus from their community to a (single) designated station. The station resides on our transit line at a distance x (km) from the destination (the employment location). The fare for the shuttle bus is F ($) each trip.

Write an expression for the predicted number of adults from this community that will use our transit system.

Reference no: EM131424052

Questions Cloud

How are training and development similar in nature : How are training and development similar or different in nature and function?What is a specific example of how training and/or development can be used to create more productive and/or engaged employees in the workplace?
Find the sample space for given experiment : Carefully sketch (part of) a tree diagram to illustrate the possible outcomes for this experiment.- Find the sample space for this experiment.
Studied separately from product marketing : What are services? Do you believe that service marketing should be studied separately from product marketing? Why or Why not? Banks are more likely to provide financing during a phase called later stage. This describes the period in which companies h..
What purposes has this profound change in structure served : Over the years, large business organizations have steadily reduced the number of layers in the organization structure. What purposes has this profound change in structure served?
Employment location at an average travel speed : A transit line is to be constructed so that people living in a 200-km-long, narrow corridor can be transported to a single employment location at the end of this corridor. The transit vehicles will transport commuters to the employment location at..
Determine factors that impact quality of project management : Determine at least two factors that impact the quality of project management. Suggest ways these factors can be mitigated without affecting project operations.
How many possible outcomes are there in given experiment : A taxpayer in need of advice will call the IRS repeatedly until she can get through (no busy signal). - How many possible outcomes are there in this experiment?- List some of the outcomes for this experiment.
Develop a plan for how to resolve ethical and legal issues : Explain how the proposed plan would help managers establish an ethical work environment. Develop a plan for how to resolve ethical and legal issues
Discuss the similarities and differences using vocabulary : Choose one or two self-portrait artworks that are in the current exhibition in the Schelfhaudt Gallery. Discuss the similarities and differences using vocabulary we've learned this semester as well as from the textbook glossary.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd