Table 11-1 Consider the Town of Anywhere with Only Three Residents, Mary

question 123

Multiple Choice

Table 11-1
Consider the town of Anywhere with only three residents, Mary, Bill, and Tricia. The three residents are trying to determine how large, in acres, they should build the public park. The table below shows each resident's willingness to pay for each acre of the park.

-Refer to Table 11-1.Suppose the cost to build the park is $16 per acre.How large should the park be to maximize total surplus from the park in Anywhere?

• A) 2 acres
• B) 3 acres
• C) 4 acres
• D) 5 acres