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

question 45

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 $33 per acre and that the residents have agreed to split the cost of building the park equally.If the residents decide to build a park with size equal to the number of acres that maximizes total surplus from the park,how much total surplus will Mary receive?

• A) -$6
• B) -$3
• C) $3
• D) $10

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Definitions:

Carbon-carbon Double Bond

A strong chemical bond involving the sharing of two pairs of electrons between two carbon atoms, characterized by its reactivity and presence in unsaturated compounds.

Unsaturated Fatty Acid

A type of fatty acid that contains one or more double bonds within its hydrocarbon chain, often found in vegetable oils and associated with health benefits.

Hydrolyzed

Refers to the chemical process where a molecule is split into two or more parts by the addition of a water molecule.

Fatty Acid

Carboxylic acids with a long aliphatic chain, which can be either saturated or unsaturated, and are a key component of lipids in the diet.