To Efficiently Manage Traffic on a System of Bridges

question 206

Multiple Choice

To efficiently manage traffic on a system of bridges,

• A)the more-crowded bridges should have lower tolls, so that they are affordable.
• B)the tolls should be equal for all bridges, so that people can choose the most convenient routes.
• C)tolls should be higher on more-crowded bridges and lower on less-crowded bridges.
• D)there should be no tolls on bridges, because people should not have to pay to drive to their jobs.

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Definitions:

Output

The quantity of goods or services produced in a given time period by a firm, industry, or country.

Price

The amount of money required to purchase a good, service, or asset, determined by supply and demand dynamics.

Natural Monopoly

A market condition where a single firm can provide goods or services to an entire market at a lower cost than if there were multiple firms in the industry.

Antitrust Suits

Legal cases intended to prevent or penalize monopolies and ensure competition in the marketplace.