Table 11-5 A Small Strip Mall Contains Four Retail Stores, and Crime

question 164

Multiple Choice

Table 11-5
A small strip mall contains four retail stores, and crime has recently been on the increase in the neighborhood of the strip mall. The owners of the four stores - Stores A, B, C, and D - are considering contributing to a pool of money that will be used to hire up to 4 security guards. The table represents their willingness to pay, that is, the maximum amount that each store owner is willing to contribute, per day, to hire each security guard.

-Refer to Table 11-5.Suppose the cost to hire each guard is $120 per day and the 4 store owners have agreed to split the costs of hiring guards equally.How many guards would the owner of Store A prefer to hire?

• A) 0
• B) 1
• C) 2
• D) 3

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied by producers.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Coffee

A brewed drink prepared from roasted coffee beans, the seeds of berries from certain Coffea species.

Cod Supply Curve

Assuming this is a typographical error for "Cost Supply Curve," but if referring specifically to cod (the fish), it's not a standard economic term, thus NO.