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Consider a small town deciding whether to build a public park. The town council conducts a survey of its 100 residents and asks them how
Consider a small town deciding whether to build a public park. The town council conducts a survey of its 100 residents and asks them how much they would each value the park. The survey results are as follows. Number Value of park of people per person Total 10 $800 $8,000 30 $600 $18,000 30 $200 $6,000 20 $50 $1,000 10 $0 $0 100 $33,000 a. Suppose it costs $40,000 to build the park. Should the town do it
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