Table 11-1
Consider the town of Springfield with only three residents, Sophia, Amber, and Cedric. The three residents are trying to determine how large, in acres, they should build the public park. The table below shows each resident's willingness to pay for each acre of the park. 
-Refer to Table 11-1. Suppose the cost to build the park is $24 per acre and that the residents have agreed to split the cost of building the park equally. If the residents decide to build a park with size equal to the number of acres that maximizes total surplus from the park, how much total surplus will Sophia receive?
Definitions:
Effective Interest Method
A technique used in accounting to allocate the interest expense or income of a bond over its lifetime based on the bond's carrying amount at each interest period.
Balance Sheet
A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.
Effective Interest Method
The effective interest method is a finance and accounting technique used to allocate loan or bond interest expense over the relevant period based on the loan's book value.
Q26: Refer to Table 11-4. Suppose the cost
Q37: Suppose that policymakers are doing cost-benefit analysis
Q77: Excessive fishing occurs because<br>A)each individual fisherman has
Q93: The least expensive way to clean up
Q123: An example of the "Tragedy of the
Q205: Which of the following is usually true
Q270: Refer to Scenario 11-3. Which of these
Q390: The average tax rate measures the<br>A)fraction of
Q463: When a transaction between a buyer and
Q536: Despite the appealing logic of the Coase