1. uooo exterior nome maintenance leads to mgner property values tnrougnout a neighborhood. Of course, the gains in property values must be balanced against th opportunity cost of time for those who do the maintenance. The information belov applies to a particular residential neighborhood. The first two columns show a list . home maintenance tasks and how much each task would raise the total value of property in the neighborhood. (The gain in total value is spread evenly over the sew houses in the neighborhood, and everyone in the neighborhood knows and agrees upon the gain created by each task). The second two columns list the residents oft neighborhood, and the opportunity cost of a day of time for each resident. Each resident has 1 day available for maintenance work, and each task takes one day. Tasks Total Increase in Property values Resident Opportunity Cost Plant owers in median $500 Pete $400 Install streetlights $1,000 Angela $1,000 Paint shutters $800 Kirk $2,000 Replace rusty siding $600 Ruth $100 Repair sidewalk $900 Sam $450 Plant trees $300 Beverly $300 Plant lilacs $200 Gertrude $250 Repair curbs $400 a. Construct and plot on a single graph the marginal benefit and marginal cost schedules for home repair tasks. (Hint: the horizontal axis of this graph is the number tasks undertaken in the neighborhood, and the vertical axis is the margin cost/benefit to the neighborhood of each task). b. What is the optimal amount of time to devote to home maintenance in this neighborhood? Who should devote time to home maintenance? What tasks should be done? Suppose that people are assigned tasks as follows: Pete plants owers in the median, Angela installs the streetlights, Kirk paints the shutters, Ruth replaces sumo