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As part of the California High Speed Rail System, the Caltrain tracks from SJ toSF will be upgraded to support modestly higher speeds. A key question is whatspeed should they be upgraded to. The current speed (80 mph) is unacceptablyslow, but the top speed of the trains (220 mph) may not be appropriate for adense urban/suburban area. Suppose that train ridership isP= 100S, wherePis total daily ridership (passengers) andSis the speed that the train will runat (mph). Suppose that operating at speed S costsC= 100S+ 5S2(note that this cost is independent of the number of passengers that ride). Further supposethat each passenger that rides has a willingness to pay equal to the train fareand that each passenger saves other highway commuters $5 in congestion costsand reduces pollution externalities by $1. Finally, suppose that higher speedscreate more noise for houses located next to the tracks, and that the total costof this noise isN= $S2.
Caltrain is currently in the process of converting from diesel locomotivesto electrification. Electric trains are faster and have no (local) emissions.Assume that the electric trains will reduce pollution externalities by $2 perride (vs $1) and change operating costs toC= 50S+4S2. What operating speed with Caltrain choose with electric trains (assuming it takes intoaccount all costs and benefits)?
Describe the shape of the contract curve in the exchange between two people with identical preferences? Assume utility functions with strictly convex indifferen
Consider a person who can work up to 80 hours each week at a pre-tax wage of $20 per hour but faces a constant 25% payroll tax. Under these conditions, the worker maximizes her utility by choosing to work 40 hours each week. On a single graph, draw ..
Suppose the economy is initially in short run equilibrium at a level of output above the natural rate. Use the IS-LM model to graphically show how the levels of income and interest rates change as the economy returns to the natural rate of output in ..
Discuss what you think is the bigger source of rejection and frustration for incels: women or society? Why?
The budget deficit of the government of Lyria, an open economy, has persistently remained higher than 6 percent of GDP. Murphy Smith, a banker, feels that a high budget deficit is detrimental to economic growth. In his opinion, there should be a law ..
In each period of production, all farmers must buy a new plow, which costs two bushels. This plow doubles production. What effect will this technology increase have on land rent and wages?
Explain which option is ultimately the most expensive and why you think it is. Explain which option is ultimately the least expensive and why you think it is.
If a bank fails, what are the risks for the macro-economy that do not exist for other businesses?
a. What does this imply for the shape of your short-run marginal cost curve?
Using the principles of supply and demand, develop a plan to alleviate the shortage of math and science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium. Defend your position using economic ..
Based on the readings, how have laws such as the Americans with Disabilities Act (ADA) and the ADA Amendments Act (ADAAA), Civil Rights Acts, influenced the perception you and others have in relationship to diversity?
You purchase a 20-year bond today with a $10,000 face value that makes annual coupon payments at a 5% coupon rate. If the yield to maturity on 20 year bonds at the time of purchase was 4%, how much did you pay for the 20 year bond? After holding the ..
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