2. Residents in a town are voting to decide where a new library will be built. The residents" homes are on the same street and the "map" of the town is represented below. The letters represent the location of each house. The numbers represent distance in 100 meters (in other words, house 'a' is 100 meters from house 'b' and 1200 meters from house 'i'). Each house- hold would receive a utility of 12 if the library was built in front of that house; utility decreases by 1 unit as the distance to the library increases by 100 meters. Use the distance markers (the numbers) to indicate where the library should go according to the following aggregation methods:

2. Residents in a town are voting to decide where a new library will be built. The residents" homes are on the same street and the "map" of the town is represented below. The letters represent the location of each house. The numbers represent distance in 100 meters (in other words, house 'a' is 100 meters from house 'b' and 1200 meters from house 'i'). Each house- hold would receive a utility of 12 if the library was built in front of that house; utility decreases by 1 unit as the distance to the library increases by 100 meters. Use the distance markers (the numbers) to indicate where the library should go according to the following aggregation methods:

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 6PA

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