00:01
For this question, we'll be looking at the economics and the news article that discusses the transportation infrastructure.
00:08
So for the first part of the question, we're asked, like, what's the source of the revenue for this infrastructure? well, it all comes from the gas tax that was used to basically pay for the maintenance and construction of road infrastructure.
00:26
And then the second part of the question tells us, why did the revenue not grow as fast? as the efficient scale of infrastructure provision.
00:37
Well, basically because now there's more gas -efficient cars and there's also less overall driving that has decreased the revenue for the gas tax.
00:47
And what are some ways that we can basically pay for this under provision? well, we can use tolls as another source to generate more revenue for this infrastructure.
00:59
And then the part d of the question asks us, what would happen to the marginal social benefit curve if the population grows? well, we know that if the population grows and there will be more people that can benefit from using the roads and the bridges...