(Table: Marginal Benefit from Additional Streetlights) Dave and Art Live

question 4

Multiple Choice

(Table: Marginal Benefit from Additional Streetlights) Dave and Art live in a new housing development and would like to have streetlights installed.The table Marginal Benefit from Additional Streetlights shows Dave's and Art's individual marginal benefit of different numbers of streetlights.Suppose that the marginal cost of installing a streetlight is $6.What is the maximum that Art would be willing to pay to have one streetlight installed in the neighborhood?

• A)$20
• B)$15
• C)$35
• D)$5

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Definitions:

Suburban Middle-Class

A socioeconomic group characterized by moderate income and standard of living, typically residing in suburban areas outside of major urban centers.

Women

Adult human females, often highlighted in discussions of rights, equality, and social roles historically and in contemporary society.

Missile Gap

A term primarily used during the Cold War to refer to a perceived superiority in the number and power of the USSR's missiles compared to those of the USA.

Soviet Union

A socialist state that existed from 1922 to 1991, comprising Russia and several other republics, characterized by a one-party government and a centrally planned economy.