Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below. The public's willingness to pay for the 2ⁿᵈ acre of parkland is ________.

Name: Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below. The public's willingness to pay for the 2ⁿᵈ acre of parkland is ________.
Brand: Quizplus
Rating: 4.7 (60 reviews)

Question

Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.  The public's willingness to pay for the 2ⁿᵈ acre of parkland is ________.

Quizplus · Accepted Answer

The public's willingness to pay for the 2ⁿᵈ acre is $5 + $12 + $9 = $26.

Consider a Town with Three Residents