Eleven Consumers Are Trying to Decide Whether to Connect to a New

question 2

Multiple Choice

Eleven consumers are trying to decide whether to connect to a new communications network.Consumer 1 is of type 1, consumer 2 is of type 2, consumer 3 is of type 3, and so on.Where k is the number of consumers connected to the network (including oneself) , a consumer of type n has a willingness to pay to belong to this network equal to k times n.What is the highest price at which 4 consumers could all connect to the network and either make a profit or at least break even?

• A)$24
• B)$64
• C)$40
• D)$28
• E)$32

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Definitions:

Recursive Definition

A definition of a function, sequence, or process in which the next term is defined in terms of previous terms.

Common Difference

The consistent difference between consecutive terms in an arithmetic sequence.

Common Difference

The difference between successive terms in an arithmetic sequence.

Arithmetic Sequence

An arithmetic sequence is a sequence of numbers in which each term after the first is obtained by adding a constant difference to the preceding term.