Use the Following to Answer Question

question 21

Multiple Choice

Use the following to answer question:
-(Table: Street Cleanings) Use Table: Street Cleanings.Suppose that the marginal cost of each street cleaning is $18.Which statement is TRUE?

• A)If the city decided to clean the streets only once per month,Peter would be willing to pay the entire cost of the cleaning.
• B)If the city decided to clean the streets only once per month,Wendy would be willing to pay the entire cost of the cleaning.
• C)If Wendy and Peter were the only people in society,the efficient number of street cleanings would be one per month.
• D)If Wendy and Peter were the only people in society,the efficient number of street cleanings would be at least two per month.

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Definitions:

1099-MISC

An Internal Revenue Service (IRS) tax form used in the U.S. to report payments made in the course of a trade or business to individuals who are not employees.

Mortgage Interest

The interest charged on a loan used to purchase a home, which can often be deducted from one's taxable income.

Property Taxes

Taxes paid by property owners, based on the assessed value of their real estate, used primarily to fund public services like education and infrastructure.

Depreciation

The process of allocating the cost of tangible assets over their useful lives for accounting and tax purposes, reflecting the asset's consumption, wear and tear.