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Jamie Perez
on Nov 25, 2024

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There are no external costs with being on the roadways during peak driving hours; there are only private costs that include your gasoline and opportunity cost of time spent in traffic.

External Costs

Costs of an economic activity that are not borne by the parties involved in the transaction but are instead imposed on third parties or the society at large.

Peak Driving

Peak driving refers to periods of high demand for gasoline, often coinciding with certain times of the year like summer holidays, resulting in higher gasoline prices due to increased consumption.

  • Appreciate the economic ramifications of environmental policy implementation and pollution reduction measures.
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PANKAJ GANGWARNov 26, 2024
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