One important issue that does not receive much explicit discussion in benefit cost analyses is that of standing. A. Briefly explain what is meant by standing. B. Consider a transit plan for Seattle for which the geographical distribution of benefits and costs is shown below. Three possible perspectives with respect to standing are Seattle, King County (Seattle plus the rest of King County), and the State of Washington (Seattle, the rest of King County, and the other counties in Washington). Discuss how each of these assumptions about standing affects whether or not the project satisfies the potential oompensation criterion. Benefits Costs \"U Restof Kin- Coun -E&_ Other counties in Washington 900 C. Suppose that the State of Washington is analyzing a proposed expansion of l5 between the Canadian border and the Oregon border. The benefits of the proposed project take the form of reductions in users' travel costs and risks. The construction costs will be shared by the State of Washington (10%) and the Federal government (90%). Three possible perspectives with respect to standing are state, national, and global. 1. Which perspective is likely to yield the largest aggregate estimate of total benefits? The smallest aggregate estimate of total benefits? 2. Which perspective is likely to yield the largest aggregate estimate of total costs? The smallest aggregate estimate of total costs? 3. Which perspective is likely to yield the largest aggregate estimate of total net benefits? The smallest aggregate estimate of total net benefits? Consider a society with three consumers, Brown, Smith, and .Jones. The social marginal utility of income (SMUY) is 1.2 for Brown, 0.8 for Smith and 0.6 for Jones. A. Discuss the following assertion: \"Assuming that all three have the same marginal social significance, it can be inferred that Brown has the highest income.\" B. Suppose that a project would have net benefits of $180 for Brown, -$160 for Smith, and -$50 for Jones. Would this project satisfy the following criteria? Explain why or why not in each case