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A new publicly financed bridge is expected to reduce the cost of auto travel between two areas by $1 1 answer below » A new publicly financed bridge is expected to reduce the cost of auto travel between two areas by $1 per trip. This cost reduction to motorists consists of a reduction in travel time, auto depreciation and petrol expenses totalling $1.50 per trip, less the $0.50 bridge toll which the government will collect. Before the bridge was built there were 1 million trips per year between the two areas. Once the bridge is in operation it is estimated that there will be 1.5 million trips per year between the View complete question » A new publicly financed bridge is expected to reduce the cost of auto travel between two areas by $1 per trip. This cost reduction to motorists consists of a reduction in travel time, auto depreciation and petrol expenses totalling $1.50 per trip, less the $0.50 bridge toll which the government will collect. Before the bridge was built there were 1 million trips per year between the two areas. Once the bridge is in operation it is estimated that there will be 1.5 million trips per year between the two areas. In terms of areas under the demand curve, what is the annual benefit of the bridge: to motorists? to the government? What other referent group benefits would need to be considered in a social benefit-cost analysis? View less » Aug 21 2015 03:37 PM
