Consider the small village of Axisville with only three residents, Xavier, Yola, and Zachary. 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 (i.e., their marginal willingness to pay, NOT total).
Table 8-1
Marginal willingness to pay for acres of a public park
Zachary
$6
Acres
Xavier
1
$10
Yola
$24
2
8
18
5
3
6
14
4
4
3
8
3
5
1
6
2
6
0
4
1
7
0
2
0