Table 11-1 Consider the Town of Tritown with Only Three Residents,Ed,Jim,and Tony.The

question 253

Multiple Choice

Table 11-1
Consider the town of Tritown with only three residents,Ed,Jim,and Tony.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 $14 per acre and that the residents have agreed to split the cost of building the park equally.If the residents vote to determine the size of park to build,basing their decision solely on their own willingness to pay (and trying to maximize their own surplus) ,what is the largest park size for which the majority of residents would vote "yes?"

• A) 0 acres
• B) 1 acre
• C) 2 acres
• D) 3 acres

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