Consider the congestion pricing problem illustrated in Figure 17.5.
a) What is the size of the deadweight loss from the negative externalities if there is no toll imposed during the peak period?
b) Why is the optimal toll during the peak period not $3, the difference between the marginal social cost and the marginal private cost when the traffic volume is Q5?
c) How much revenue will the toll authority collect per hour if it charges the economically efficient toll during the peak period?