Figure 5-16 Amit and Bree Are the Only Two Homeowners on an Only

question 48

Multiple Choice

Figure 5-16

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 5-16 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 5-16.What is the optimal quantity of street lights to install?

• A)3
• B)4
• C)6

---

Definitions:

Evolving Job Market

The ongoing change and adaptation in the job market, reflecting new industries, technologies, and employment practices.

Awareness

The knowledge or perception of a situation or fact, often highlighting the importance of being conscious or informed about something.

Familiarity

The state of being well-known or easily recognized due to repeated exposure or experience.

Processor Speeds

The rate at which a computer's CPU executes instructions, typically measured in gigahertz (GHz), indicating billions of cycles per second.