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

question 332

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 $15 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) 1 acre
• B) 2 acres
• C) 3 acres
• D) 4 acres

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Definitions:

Kingpin

A critical component in vehicle steering mechanisms or in the coupling between a trailer and a tractor, around which steering or pivoting occurs.

Steering Axles

Axles equipped with mechanisms to alter the direction of a vehicle's wheels, facilitating steering.

Tandem Drive Axles

A pair of drive axles in a vehicle, typically trucks or buses, that work in conjunction to distribute the weight and increase the vehicle's traction.

Pusher Axle

A truck dead axle located in front of a drive axle that may or may not be a lift axle.