Question :
71.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofthestreetlightsequally.Ifthefamiliesvotetodeterminethenumberofstreetlightstoinstall,basingtheirdecisionsolelyonthe : 1261435
71.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofthestreetlightsequally.Ifthefamiliesvotetodeterminethenumberofstreetlightstoinstall,basingtheirdecisionsolelyontheirownwillingnesstopay(andtryingtomaximizetheirownsurplus),whatisthegreatestnumberofstreetlightsforwhichthemajorityoffamilieswouldvote“yes?”
a.1streetlight
b.2streetlights
c.3streetlights
d.4streetlights
72.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Tomaximizetheirownsurplus,howmanystreetlightswouldtheGreene’slikethetowntoinstall?
a.0streetlights
b.1streetlight
c.2streetlights
d.3streetlights
73.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$600andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Tomaximizetheirownsurplus,howmanystreetlightswouldtheBrown’slikethetowntoinstall?
a.0streetlights
b.1streetlight
c.2streetlights
d.3streetlights
74.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$900andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Tomaximizetheirownsurplus,howmanystreetlightswouldtheBlack’slikethetowntoinstall?
a.0streetlights
b.1streetlight
c.2streetlights
d.3streetlights
75.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$900andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Iftheresidentschoosetoinstallthenumberofstreetlightsthatwillmaximizetotalsurplusfromthestreetlights,howmuchtotalsurpluswilltheGreenefamilyreceive?
a.-$40
b.$0
c.$40
d.$60
76.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Iftheresidentschoosetoinstallthenumberofstreetlightsthatwillmaximizetotalsurplusfromthestreetlights,howmuchtotalsurpluswilltheGreenefamilyreceive?
a.-$80
b.$320
c.$360
d.$480
Table11-3
ThistabledescribesthepoliceprotectiondemandsforthreeequalsizedgroupsofpeopleinSafetyville.Thesecond,third,andfourthcolumnsshowthenumberofperson-hoursofpoliceprotectionperdaythatagroupwilldemandforagivenprice(thefirstcolumn).
Price
Group#1
Group#2
Group#3
$42
0
0
0
$36
0
0
9
$30
0
9
18
$24
9
18
39
$18
18
39
66
$12
39
66
99
$6
66
99
132
$0
99
132
174
77.RefertoTable11-3.Whatisthevalueofthe99thunit ofpolice protectionin Safetyville?
a.$0
b.$6
c.$12
d.$18
78.RefertoTable11-3.Whatisthevalueofthe39thunit ofpoliceprotection inSafetyville?
a.$24
b.$42
c.$54
d.$72
79.RefertoTable11-3.Ifthemarginalcostofpoliceprotectionisconstantat$36perperson-hour,whatistheefficientlevelofpoliceprotectiontoprovide?
a.9units
b.39 units
c.66 units
d.99 units
80.RefertoTable11-3.Ifthemarginalcostofpoliceprotectionisconstantat$72perperson-hour,whatistheefficientlevelofpoliceprotectiontoprovide?
a.9person-hours
b.18person-hours
c.39person-hours
d.66person-hours
Table11-4
TherearefourhomesalongBelmontCircle,whichsurroundsasmallplotofland.Thelandcurrentlyhasnotrees,andthe4homeowners–Adams,Benitez,Chen,andDavis–areconsideringtheideaofcontributingtoapoolofmoneythatwillbeusedtoplantupto4trees.Thetablerepresentstheirwillingnesstopay,thatis,themaximumamountthateachhomeowneriswillingtocontributetowardeachtree.
Adams
Benitez
Chen
Davis
Firsttree
$100
$115
$120
$90
Secondtree
50
110
110
50
Thirdtree
20
100
80
30
Fourthtree
10
50
40
0