Step 1:
This efficiency analysis will examine the efficiency of widen an intercity highway in Los Angeles from four lanes to six lanes with the intention of reducing traffic congestion. Already the existing highway has four lanes. However, due to congestion, the project team proposed the idea to widen the highway to accommodate six lanes.
Step 2:
In this case, the main purpose of the economic efficiency analysis is to determine whether the project is viable for its entire lifetime. Any major infrastructure works within a city are very expensive. In addition, infrastructure projects have a life expectancy and they are expected to ...
