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

question 53

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 $40 per hour and that the residents have agreed to split the cost of cleaning the lake equally. If it was decided that the lake will be cleaned for the number of hours that maximizes total surplus of Widgetapolis, how much individual surplus will Lydia receive in total?

• A)-$10
• B)-$5
• C)-$4
• D)$6

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Definitions:

Purge Program

Typically refers to a systematic effort to eliminate or remove unwanted or unnecessary information, files, or items from a system or space.

Operational Program

A plan detailing the day-to-day activities and procedures a business or organization follows to achieve short-term objectives and run its operations effectively.

Disaster Recovery Planning

Is the strategic process of creating a structured approach with policies and procedures for responding to potential disasters or disruptions to a company’s operations.