49. Table 11-4 There are four homes along Belmont Circle, which surrounds a small plot of land. The land currently has no trees, and the 4 homeowners -- Adams, Benitez, Chen, and Davis -- are considering the idea of contributing to a pool of money that will be used to plant up to 4 trees. The table represents their willingness to pay, that is, the maximum amount that each homeowner is willing to contribute toward each tree. Adams First tree Second tree Third tree $100 50 20 Benitez $115 110 100 Chen $120 110 80 Davis $90 50 30

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49. Table 11-4 There are four homes along Belmont Circle, which surrounds a small plot of
land. The land currently has no trees, and the 4 homeowners - Adams, Benitez, Chen, and
Davis -- are considering the idea of contributing to a pool of money that will be used to plant
up to 4 trees. The table represents their willingness to pay, that is, the maximum amount that
each homeowner is willing to contribute toward each tree.
Adams
Chen
$100
First tree
Second tree
Third tree
Fourth tree
A. 3
B. 2
C. 1
50
D. 4
20
10
Benitez
$115
110
100
50
$120
110
80
40
Davis
$90
Refer to Table 11-4. Suppose the cost to plant each tree is $90. How many trees should be
planted to maximize the total surplus of the four homeowners?
50
30
O
Transcribed Image Text:-- 49. Table 11-4 There are four homes along Belmont Circle, which surrounds a small plot of land. The land currently has no trees, and the 4 homeowners - Adams, Benitez, Chen, and Davis -- are considering the idea of contributing to a pool of money that will be used to plant up to 4 trees. The table represents their willingness to pay, that is, the maximum amount that each homeowner is willing to contribute toward each tree. Adams Chen $100 First tree Second tree Third tree Fourth tree A. 3 B. 2 C. 1 50 D. 4 20 10 Benitez $115 110 100 50 $120 110 80 40 Davis $90 Refer to Table 11-4. Suppose the cost to plant each tree is $90. How many trees should be planted to maximize the total surplus of the four homeowners? 50 30 O
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