A Stairwell in a Certain Office Building Is Always Congested

question 140

Multiple Choice

A stairwell in a certain office building is always congested at noon and 5:00 p.m.The congestion is so bad that people have been complaining to the building's owner.Which of the following methods would be the most efficient way of reducing congestion

• A)Charge everyone who uses the stairwell when it is congested a fee based on their income, with richer people paying more than poorer people.
• B)Encourage people to voluntarily keep off the stairwell during peak times.
• C)Charge everyone who uses the stairwell when it is congested the same fee.People who value the use of the stairs the most will be the ones who use the stairwell at peak times.
• D)Hold a lottery to determine who wins the right to use the stairwell at peak times.

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Definitions:

Revenue

The income that a business receives from its normal business activities, usually from the sale of goods and services to customers.

Productivity

A measure of the efficiency of production, often expressed as the ratio of outputs produced to inputs used.

Hourly Wage

The hourly wage an employee receives for their work.

Equilibrium Purchase Price

The price at which the quantity of goods demanded by consumers equals the quantity of goods supplied by producers.