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  3. Suppose you are in charge of a toll bridge that is essentially cost free. The de

Suppose you are in charge of a toll bridge that is essentially cost free. The de

游客2025-06-21  20
问题 Suppose you are in charge of a toll bridge that is essentially cost free. The demand for bridge crossings Q is given by P=12-2Q.
(a)Draw the demand curve for bridge crossings.
(b)How many people would cross the bridge if there were no toll?
(c)What is the loss of consumer surplus associated with the charge of a bridge toll of ＄6?
选项
答案 (a)The demand curve is a straight line with a vertical intercept of P=12 and a horizontal intercept of Q=6 (since Q=6-P/2).
(b)If there were no toll, the price P would be 0, so that Q=6.
(c)If the toll is ＄6, Q = 3. The consumer surplus lost is the difference between consumer surplus when P=0 and consumer surplus when P=3, or 15.75.
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