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

question 109

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 $360 and the families have agreed to split the cost of installing the streetlights equally. If the residents choose to install the number of streetlights that will maximize total surplus from the streetlights, how much total surplus will the Greene family receive?

• A)-$80
• B)$320
• C)$360
• D)$480

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Definitions:

Stressors

External stimuli or events that cause stress to an individual, potentially leading to physical or emotional strain.

Acculturative Stress

The psychological impact of adapting to a new culture, consisting of stress caused by the process of acculturation.

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United States

A country located primarily in North America, composed of 50 states, a federal district, five major self-governing territories, and various possessions.