Scenario: Jim and Jane Are the Only Residents of an Apartment

question 133

Multiple Choice

Scenario: Jim and Jane are the only residents of an apartment building. The figures below show their demand curves for security guards (in hours of duty per day) who staff the entrance to the apartment. To answer some of the questions below, it will be useful to find the equations of the two lines in the figure.

-Refer to the figure above.What is the maximum amount of money Jim and Jane together would pay to have 24 hours of security guards' presence?

• A) $32.50 per hour
• B) $28.75 per hour
• C) $16.50 per hour
• D) $10.00 per hour

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