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Impact of lowering the speed limit of Illinois I- 90 on the demand and supply graph.

Assume that the Illinois Turnpike Authority lowered the speed limit on I-90 to 60 mph from the present 75 mph. In addition, assume that the new speed limit will be vigorously enforced by the Illinois Highway Patrol. Utilizing a supply as well as demand graph, make one shift of wither the supply or demand curve to illustrate the likely result of this action.

 

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M919505

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