There are two routes for driving from A to B. One is freeway, and the other consists of local roads. The benefit of using the freeway is constant and equal to 3.6, irrespective of the number of people using it. Local roads get congested when too many people use this alternative, but if not enough peoople use it, the few isolated drivers run the risk of becoming victims of crimes. Suppose that when a fraction of x of the population is using the local roads, the benefit of this mode to each driver is given by:
1 + 8x β 9xΒ²
Required:
a. Draw a graph showing the benefits of the two driving routes as functions of x, regarding x as a continuous variable between 0 and 1.
b. Identify all possible equilibrium traffic patterns from your graph in part (a). Which equilibria are stable? Which ones are unstable? Explain.
c. What value of x maximizes the total benefit to the whole population?
Answers: 3
Business, 22.06.2019 15:10
On december 31, 2013, coronado company issues 173,000 stock-appreciation rights to its officers entitling them to receive cash for the difference between the market price of its stock and a pre-established price of $10. the fair value of the sars is estimated to be $5 per sar on december 31, 2014; $2 on december 31, 2015; $10 on december 31, 2016; and $8 on december 31, 2017. the service period is 4 years, and the exercise period is 7 years. prepare a schedule that shows the amount of compensation expense allocable to each year affected by the stock-appreciation rights plan.
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Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncertainty.
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There are two routes for driving from A to B. One is freeway, and the other consists of local roads....
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