Figure 142 Amit and Bree Are the Only Two Homeowners

question 76

Multiple Choice

Figure 14.2 Amit and Bree are the only two homeowners on an isolated private road.Both agree that installing street lights along the road would be beneficial and want to do so.Figure 14.2 shows their willingness to pay for different quantities of street lights, the market demand for street lights and the marginal cost of installing the street lights.
-Refer to Figure 14.2.How much is Amit willing to pay to have 4 street lights installed?

• A)$3600
• B)$2700
• C)$1800
• D)$900

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Definitions:

Road Construction

The process of building, maintaining, and repairing roads, including activities such as excavating, paving, and installing traffic management systems.

Navigate

To plan and direct the path or course of something, especially by using instruments or maps, or metaphorically to find one's way in life or a complex situation.

Positive Reinforcement

A method in behaviorism used to increase the likelihood of a particular response by following it with the addition of something pleasant or rewarding.

Study Harder

Suggests increasing the intensity or dedication with which one engages in learning activities to achieve better academic or knowledge outcomes.