Examlex

Solved

Table 11-2 Consider a Small Town with Only Three Families, the Greene

question 225

Multiple Choice

Table 11-2
Consider a small town with only three families, the Greene family, the Brown family, and the Black family. The town does not currently have any streetlights so it is very dark at night. The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install. The table below shows each family's willingness to pay for each streetlight. Table 11-2 Consider a small town with only three families, the Greene family, the Brown family, and the Black family. The town does not currently have any streetlights so it is very dark at night. The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install. The table below shows each family's willingness to pay for each streetlight.   -Refer to Table 11-2. Suppose the cost to install each streetlight is $900 and the families have agreed to split the cost of installing the streetlights equally. If the residents choose to install the number of streetlights that will maximize total surplus from the streetlights, how much total surplus will the Greene family receive? A) -$40 B) $0 C) $40 D) $60
-Refer to Table 11-2. Suppose the cost to install each streetlight is $900 and the families have agreed to split the cost of installing the streetlights equally. If the residents choose to install the number of streetlights that will maximize total surplus from the streetlights, how much total surplus will the Greene family receive?


Definitions:

Proofreading

The process of reviewing and checking written content for errors before it is published or shared.

Typographical Errors

Mistakes made in typing or printing, typically involving incorrect spelling, punctuation, or arrangement of letters.

Revising

The process of reviewing and altering a document or work with the aim of improving it.

Good Writing Skills

The ability to convey ideas, information, and messages clearly and effectively through written text, employing proper grammar, structure, and style.

Related Questions