Economics · Economic Concepts and Paradoxes
Which one of the following statements best describes Braess's Paradox?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Countries endowed with abundant natural resources may experience slower economic growth and weaker institutions.
- 2Technological change that makes a resource cheaper or more efficient to use often results in greater overall demand for that resource.
- 3A rise in road capacity in urban areas, intended to ease congestion, may in fact aggravate overall traffic congestion.✓
- 4Expanding industrial zones to increase production can reduce overall industrial output because of greater competition for limited resources.
Correct answer
A rise in road capacity in urban areas, intended to ease congestion, may in fact aggravate overall traffic congestion.
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