Four friends decide to have a party every Saturday. They decide to pool the money to...
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Four friends decide to have a party every Saturday. They decide to pool the money to spend on the parties. The table below shows the maximum amount each friend is willing to contribute to each party. Number of parties First party Second party Third party Fourth party 4 2 1 Peter $250 $200 $135 $60 3 Mary $340 $270 $80 $100 Kate If the cost of each party is $225, how many parties should they have to maximize total surplus? $120 $100 $70 $25 Jacob $215 $160 $100 $40 Four friends decide to have a party every Saturday. They decide to pool the money to spend on the parties. The table below shows the maximum amount each friend is willing to contribute to each party. Number of parties First party Second party Third party Fourth party 4 2 1 Peter $250 $200 $135 $60 3 Mary $340 $270 $80 $100 Kate If the cost of each party is $225, how many parties should they have to maximize total surplus? $120 $100 $70 $25 Jacob $215 $160 $100 $40
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Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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