Table 11-1
Consider the town of Tritown with only three residents,Ed,Jim,and Tony.The three residents are trying to determine how large,in acres,they should build the public park.The table below shows each resident's willingness to pay for each acre of the park.

-Refer to Table 11-1.Suppose the cost to build the park is $30 per acre.How many acres should the park be to maximize total surplus from the park in Tritown?
A) 2 acres
B) 3 acres
C) 4 acres
D) 5 acres

Question

Table 11-1
Consider the town of Tritown with only three residents,Ed,Jim,and Tony.The three residents are trying to determine how large,in acres,they should build the public park.The table below shows each resident's willingness to pay for each acre of the park.
 
-Refer to Table 11-1.Suppose the cost to build the park is $30 per acre.How many acres should the park be to maximize total surplus from the park in Tritown?
A) 2 acres 
B) 3 acres 
C) 4 acres 
D) 5 acres

Quizplus · Accepted Answer

The Answer of Table 11-1
Consider the town of Tritown with only three residents,Ed,Jim,and Tony.The three residents are trying to determine how large,in acres,they should build the public park.The table below shows each resident's willingness to pay for each acre of the park.
 
-Refer to Table 11-1.Suppose the cost to build the park is $30 per acre.How many acres should the park be to maximize total surplus from the park in Tritown?
A) 2 acres 
B) 3 acres 
C) 4 acres 
D) 5 acres

Table 11-1 Consider the Town of Tritown with Only Three Residents,Ed,Jim,and Tony.The