Suppose that total costs (TC) double for each project listed in Table 5.2. Which project(s) is (are)
Question:
Suppose that total costs (TC) double for each project listed in Table 5.2. Which project(s) is (are) now economically viable?
a. Plan A only
b. Plans C and D only
c. Plans B and C
d. Plans A and B only
Table 5.2:
Transcribed Image Text:
(1) Plan No new construction A: Widen existing highways B: New 2-lane highways C: New 4-lane highways D: New 6-lane highways (2) Total Cost of Project $0 50 140 240 620 (3) Marginal Cost $50 90 100 380 (4) Total Benefit $0 200 350 470 580 (5) Marginal Benefit $200 150 120 110 (6) Net Benefit (4)-(2) $0 150 210 230 -40
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Related Book For
Macroeconomics
ISBN: 9781264112456
22nd Edition
Authors: Campbell McConnell, Stanley Brue, Sean Flynn
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