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28 Sep 2019
Consider a small town with only three families, the Johnson family, the Marshall family, and the Walker family. The town does not currently have any streetlights, so it is very dark at night. The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install. The table below shows each family's willingness to pay for each streetlight.
Number of Streetlights
The Johnson Family
The Marshall Family
The Walker Family
1
$170
$240
$210
2
130
190
200
3
80
130
170
4
20
65
120
5
0
25
50
6
0
0
10
Suppose the cost to install each streetlight is $450, and the families have agreed to split the cost of installing the streetlights equally. To maximize their own surplus, how many streetlights would the Walker's like the town to install?
A. 1 streetlight
B. 2 streetlights
C. 0 streetlights
D. 3 streetlights
Consider a small town with only three families, the Johnson family, the Marshall family, and the Walker family. The town does not currently have any streetlights, so it is very dark at night. The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install. The table below shows each family's willingness to pay for each streetlight.
Number of Streetlights | The Johnson Family | The Marshall Family | The Walker Family |
1 | $170 | $240 | $210 |
2 | 130 | 190 | 200 |
3 | 80 | 130 | 170 |
4 | 20 | 65 | 120 |
5 | 0 | 25 | 50 |
6 | 0 | 0 | 10 |
Suppose the cost to install each streetlight is $450, and the families have agreed to split the cost of installing the streetlights equally. To maximize their own surplus, how many streetlights would the Walker's like the town to install?
A. 1 streetlight
B. 2 streetlights
C. 0 streetlights
D. 3 streetlights
Divya SinghLv10
28 Sep 2019