Table 91,which Shows the Toll Charges on a Particular Highway

question 117

Multiple Choice

Table 9.1,which shows the toll charges on a particular highway.

-Refer to Table 9.1 to answer this question.If using the road was presently free,what toll charge would be necessary to reduce traffic by 40 percent?

• A)$1.
• B)$2.
• C)$3.
• D)$4.

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Definitions:

Above-Equilibrium Wage Rates

Wages set above the market equilibrium, often leading to surplus labor supply or unemployment, as employers demand less labor at higher wage rates.

Opportunity Cost of Shirking

The benefits a worker forgoes by choosing to shirk (reduce their level of effort or productivity) at work, which could include potential wage increases, promotions, or job security.

Shirking

The action of avoiding or escaping from work or duties.

Monitoring Costs

Expenses involved in overseeing and controlling the performance of a business or investment.