The Atlantic City Expressway is a highway that runs from outside Philadelphia to Atlantic City, New Jersey. It is notoriously congested during the summer weekends when many people are driving to the beach about the same time. Because drivers who decide to take this road ignore the impact of their driving on overall traffic congestion the result is ________ cars on the road than the efficient number of cars and a deadweight loss is ________.
A) fewer; not created
B) fewer; created
C) more; not created
D) more; created
Correct Answer:
Verified
Q207: For a common resource, efficiency requires that
Q208: For a common resource, the marginal private
Q209: A common resource is used efficiently if
A)
Q210: Q211: To achieve the efficient amount of use Q213: If the government assigns private property rights
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