Table 11-2 Consider a Small Town with Only Three Families, the Greene

question 23

Multiple Choice

Table 11-2
Consider a small town with only three families, the Greene family, the Brown family, and the Black family. The town does not currently have any streetlights so it is very dark at night. The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install. The table below shows each family's willingness to pay for each streetlight.
-Refer to Table 11-2. Suppose the cost to install each streetlight is $900 and the families have agreed to split the cost of installing the streetlights equally. To maximize their own surplus, how many streetlights would the Black's like the town to install?

• A)0 streetlights
• B)1 streetlight
• C)2 streetlights
• D)3 streetlights

Understand the barriers to transitioning from the secondary to the primary labor market.

Describe the concept and implementation of codetermination in the labor market.

Analyze capitalism’s distinct features and critique its impacts on labor markets.

Understand the dominant economic systems in the world and their defining characteristics.

---

Definitions:

Purchasing Goods

The process of acquiring products or commodities for use, sale, or incorporation into further manufacturing or service delivery.

Carrier's Ability

A transportation or logistics company's capacity to provide effective delivery services, including speed, reliability, and coverage.

Distribution Center

A facility that handles the receiving, storage, and distribution of goods to various destinations or stores.

Multimodal Transportation

The use of two or more modes of transport to move goods or passengers from one place to another.