Lane and riley are the only two residents in a neighborhood, Ask an Expert

Economics

Lane and Riley are the only two residents in a neighborhood, and they share the same driveway. They would like to have the driveway paved. The value of the paved driveway is $1,500 to Lane and $900 to Riley. Regardless of who pays for the paving both people will benefit from it.

What is the most a contractor can charge to pave the driveway and still be assured of being hired by at least one of them?

A) $600

B) $900

C) $1,500

D) $2,400

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92198684

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