Scenario: Suppose there are only three houses on a street. The following table shows each homeowner's willingness to pay for street lights. It costs $700 to install a street light.

-Refer to the scenario above.If each homeowners on this street is left to purchase streetlights independently,then Homeowner 1 would purchase ________,Homeowner 2 would purchase ________,and Homeowner 3 would purchase ________ streetlight(s).
A) 1; 0; 2
B) 1; 1; 2
C) 0; 0; 2
D) 0; 0; 1

Question

Scenario: Suppose there are only three houses on a street. The following table shows each homeowner's willingness to pay for street lights. It costs $700 to install a street light.
 
-Refer to the scenario above.If each homeowners on this street is left to purchase streetlights independently,then Homeowner 1 would purchase ________,Homeowner 2 would purchase ________,and Homeowner 3 would purchase ________ streetlight(s).
A) 1; 0; 2 
B) 1; 1; 2 
C) 0; 0; 2 
D) 0; 0; 1

Quizplus · Accepted Answer

The Answer of Scenario: Suppose there are only three houses on a street. The following table shows each homeowner's willingness to pay for street lights. It costs $700 to install a street light.
 
-Refer to the scenario above.If each homeowners on this street is left to purchase streetlights independently,then Homeowner 1 would purchase ________,Homeowner 2 would purchase ________,and Homeowner 3 would purchase ________ streetlight(s).
A) 1; 0; 2 
B) 1; 1; 2 
C) 0; 0; 2 
D) 0; 0; 1

Scenario: Suppose There Are Only Three Houses on a Street