Multiple Choice
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 $14 per acre and that the residents have agreed to split the cost of building the park equally.If the residents vote to determine the size of park to build,basing their decision solely on their own willingness to pay (and trying to maximize their own surplus) ,what is the largest park size for which the majority of residents would vote "yes?"
A) 0 acres
B) 1 acre
C) 2 acres
D) 3 acres
Correct Answer:

Verified
Correct Answer:
Verified
Q21: National defense is a classic example of
Q90: A lighthouse is typically considered to be
Q149: Advocates of antipoverty programs claim that fighting
Q243: Economists think that the best way to
Q250: The greatest difficulty with cost-benefit analysis of
Q251: You are the mayor of a town
Q254: A beach house in Florida is<br>A) not
Q255: Table 11-3<br>This table describes the defense demands
Q256: You are the mayor of a town
Q305: When goods do not have a price,