Acres1234567-$5-$2$0F$2Sophia$10863100Amber$2418148642Cedric$6543210Refer to Table 11-1. Suppose the cost to build the park is $24 per acre and that the residents have agreed to split the cost of building the park equal.If the residents decide to build a park with size equal to the number of acres that maximizes total surplus from the park, how much total surplus willSophia receive?900127353

Consumers receive benefits up to their maximum willingness to pay. Total surplus is maximized at the…

Acres 1 2 3 4 s 6 7 -$5 -$2 SO Sophia $2 $10 8 6 3 1 0 0 Amber $24 18 14 8 2 Cedric $6 5 Refer to Table 11-1. Suppose the cost to build the park is $24 per acre and that the residents have agreed to split the cost of building the park equa If the residents decide to build a park with size equal to the number of acres that maximizes total surplus from the park, how much total surplus wi Sophia receive? 4 3 1

Acres 1 2 3 4 s 6 7 -$5 -$2 SO Sophia $2 $10 8 6 3 1 0 0 Amber $24 18 14 8 2 Cedric $6 5 Refer to Table 11-1. Suppose the cost to build the park is $24 per acre and that the residents have agreed to split the cost of building the park equa If the residents decide to build a park with size equal to the number of acres that maximizes total surplus from the park, how much total surplus wi Sophia receive? 4 3 1

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter17: Externalities And The Environment

Section: Chapter Questions

Problem 2.3P: (Negative Externalities) Suppose you wish to reduce a negative externality by imposing a tax on the...

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