Table 11-2 Consider a Small Town with Only Three Families,the Jones Family,the

question 245

Multiple Choice

Table 11-2
Consider a small town with only three families,the Jones family,the Harris family,and the Wong family.The town does not currently have any streetlights so it is very dark at night.The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install.The table below shows each family's willingness to pay for each streetlight.

-Refer to Table 11-2.Suppose the cost to install each streetlight is $200 and the families have agreed to split the cost of installing the streetlights equally.To maximize their own surplus,how many streetlights would the Jones's like the town to install?

• A) 0 streetlights
• B) 1 streetlight
• C) 2 streetlights
• D) 3 streetlights

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Definitions:

Emotional Issues

Psychological challenges that affect an individual's feelings, thoughts, and behaviors, possibly impacting their daily functioning.

Academic Credentials

Formal certifications or qualifications proving an individual's education achievements, typically awarded by educational institutions.

Minority Opinions

Views or judgements held by a small segment of a group, differing from the majority or mainstream perspectives.

Social Bonding

The process of developing relationships and connections among individuals within a group, fostering a sense of belonging and support.