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Table 11-6 Consider the City of Widgetapolis with Only Four Residents, John

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Table 11-6
Consider the city of Widgetapolis with only four residents, John, James, Mary, and Lydia. The four residents are trying to determine how many hours to spend in cleaning up the public lake. The table below shows each resident's willingness to pay for each hour of cleaning. Table 11-6 Consider the city of Widgetapolis with only four residents, John, James, Mary, and Lydia. The four residents are trying to determine how many hours to spend in cleaning up the public lake. The table below shows each resident's willingness to pay for each hour of cleaning.   ​ ​ -Refer to Table 11-6. Suppose the cost of cleaning the lake is $20 per hour, and that the residents have agreed to split the cost of cleaning the lake equally. If the residents vote to determine the number of hours spent cleaning the lake, basing their decision solely on what maximizes their own surplus, what is the most number of hours for which all four residents would vote  yes?  A) 3 hours B) 4 hours C) 5 hours D) 6 hours

-Refer to Table 11-6. Suppose the cost of cleaning the lake is $20 per hour, and that the residents have agreed to split the cost of cleaning the lake equally. If the residents vote to determine the number of hours spent cleaning the lake, basing their decision solely on what maximizes their own surplus, what is the most number of hours for which all four residents would vote "yes?"


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A landmark U.S. legislation passed in 1890 that prohibits monopolistic business practices.

Federal Trade Commission Act

A United States federal law established in 1914 to prevent unfair competition and deceptive practices in the marketplace.

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