Answer:
Person 3 needs to pay $900.
Step-by-step explanation:
Consider the provided information.
The marginal cost of providing 25 neighborhood street lamps is $2000.
Person 1 is willing to pay $800 for the 25 lamps.
person 2 is willing to pay $300 for the 25 street lamps.
We need to find the minimum amount person 3 is willing to pay for 25 street lamps?
Let person 3 need to pay x amount.
Therefore, the sum of the amount should be equal to $2000.
$2000=$800+$300+x
$2000=$1100+x
x=$2000-$1100
x=$900
Hence, person 3 needs to pay $900.
