Figure 5-8 
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 5-8 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 5-8.What is the optimal quantity of street lights to install?
Definitions:
Indemnified
Protected against liability, loss, or damage, typically through a legal agreement where one party agrees to compensate another for any financial harm that arises.
Wagering Purposes
refers to the use of funds or resources for betting or gambling activities.
Co-Insurance
A type of insurance coverage in which the insurer and the insured share losses incurred according to a specified formula.
Insured
A person or entity covered by an insurance policy, receiving protection against specified risks or damages.
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