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Traffic congestion in cities and towns provides an example of the market failing to reach a socially ...

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Traffic congestion in cities and towns provides an example of the market failing to reach a socially ...

Traffic congestion in cities and towns provides an example of the market failing to reach a socially optimum level due to

▸ marginal social benefits exceeding marginal private benefits.

▸

positive externalities of private car travel.

▸ marginal private costs exceeding marginal social costs.

▸ marginal private benefits of car travel equalling marginal social benefits.

▸ negative externalities of private car travel.

Textbook

Essential Economics for Business

Edition: 5^th

Authors: Sloman, Jones

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More solutions for this book are available here

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shaerovira Author

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this is exactly what I needed

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Good timing, thanks!

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This site is awesome

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