Question

The 1255 people residing in the state of Oz want their yellow brick road repaved. It could be repaved with standard asphalt for a cost of $163403 or with shimmering gold asphalt for $8623195. The senator that represents Oz in the national legislature argues that the yellow brick road is a national treasure and a tourist attraction. As such, the senator argues that the nation of 4363963 people should pay for the repaving. Round your answer to two decimals for all of the following questions.
What is the cost per person if the national government pays for gold asphalt?
$ ________ /person
What is the cost per person if the state of Oz pays for gold asphalt?
$ ________/person
What is the cost per person if the state of Oz pays for standard asphalt?
$________/person
Which asphalt will likely be chosen if the residents of Oz?
a. gold asphalt
b. standard asphalt
Which asphalt will likely be chosen if the national bear the cost of repaving?
government bears the cost of repaving?
a. gold asphalt
b. standard asphalt

Answer 1

Answer:

Part 1

Option b, Standard Asphalt as it will cost less per person as compared to the Gold Asphalt.

Part 2

Option B, Standard Asphalt as it will cost less per person as compared to the Gold Asphalt

Explanation:

Given

Total Population of the nation = 4363963

Total population of the state of OZ = 1255

The cost per person if the national government pays for gold asphalt  = $8623195/4363963 = 1.976 dollars per person

The cost per person if the state of Oz pays for gold asphalt =

$ 8623195/1255= $6871 per person

The cost per person if the state of Oz pays for standard asphalt =

$163403/1255 = $130 per person

Part 1

Option b, Standard Asphalt as it will cost less per person as compared to the Gold Asphalt.

Part 2

Option B, Standard Asphalt as it will cost less per person as compared to the Gold Asphalt