Abstract
In this paper highway traffic flow is formulated as a short-run production function in which traffic volume is the output and traffic density is the variable input. Given this formulation, the ‘uneconomic’ region of production is relevant. Often it is the case that traffic density will exceed the point at which traffic volume is at a maximum; i.e., the marginal product of the variable input is negative.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
