Problem
After you have studied Economics in the News on pp. 404 - 405 , answer the following questions:
a. What are some of the benefits of a well maintained transportation infrastructure such as the Gardiner Expressway?
b. What are some of the costs of keeping transportation infrastructure such as the Gardiner Expressway well maintained?
c. What determines the efficient amount of expressway maintenance and what might lead to under provision or overprovision of maintenance?
d. How would you expect Toronto's population growth to influence the marginal social benefit from the Gardiner Expressway?
e. Illustrate your answer to part (d) by drawing a version of Fig. 2 on p. 405 that shows the effect of an increase in the population.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.