Table 11-1
Consider the town of Anywhere with only three residents, Mary, Bill, and Tricia. 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 $16 per acre.How large should the park be to maximize total surplus from the park in Anywhere?
A) 2 acres
B) 3 acres
C) 4 acres
D) 5 acres

Question

Table 11-1
Consider the town of Anywhere with only three residents, Mary, Bill, and Tricia. 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 $16 per acre.How large should the park be to maximize total surplus from the park in Anywhere?
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 Anywhere with only three residents, Mary, Bill, and Tricia. 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 $16 per acre.How large should the park be to maximize total surplus from the park in Anywhere?
A) 2 acres 
B) 3 acres 
C) 4 acres 
D) 5 acres

Table 11-1 Consider the Town of Anywhere with Only Three Residents, Mary