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

question 245

Multiple Choice

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. ​
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-Refer to Table 11-6. Suppose the cost to clean the lake is $20 per hour. How many hours should be spent cleaning the lake to maximize total surplus for the residents in Widgetapolis?

• A)4 hours
• B)5 hours
• C)6 hours
• D)7 hours

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Definitions:

Arithmetic

A branch of mathematics dealing with numbers and basic operations such as addition, subtraction, multiplication, and division.

Common Difference

The constant difference between successive terms of an arithmetic sequence.

Sequence

A set of numbers arranged in a specific order, where each number is related to one or more numbers before/after it according to a specific rule.

Sigma Notation

A concise way of expressing a sum of terms using the Greek letter sigma (Σ), indicating a series to be added together.