Table 11-1 Three Wealthy Families - the Johnsons,the Lincolns,and the Washingtons -Are

Multiple Choice

Table 11-1
Three wealthy families - the Johnsons,the Lincolns,and the Washingtons -are the only residents of a certain neighborhood in which the lawns are large and the streets are wide.The three families are considering the placement of one,two,or three elegant statues at entrances to the neighborhood.The table represents the individual families' willingness to pay,that is,the maximum amount that each family is willing to contribute to purchase and erect each statue.

-Refer to Table 11-1.Suppose the cost of each statue is $25,000.Then total surplus for the three families is

A) maximized if one statue is erected.
B) $5,000 if one statue is erected.
C) $3,500 if three statues are erected.
D) All of the above are correct.