(Transcript of audio with descriptions. Transcript includes narrator headings and description headings of the visual content)
(Speaker)
In this question, you were asked to find the optimal number of security guards each individual resident would hire.
(Description)
The table from previous slide is shown.
The following text is written above the table:
If an individual resident were to decide about hiring and paying for security guard on his or her own, how many guards would that resident hire?
(Speaker)
For this question, we want to compare the marginal cost of hiring a security guard with the individual marginal benefit.
For the first security guard, the marginal cost is 150 dollars, but the individual will only receive 10 dollars of benefit.
(Description)
The corresponding cells in the second row, Marginal cost is, 150 dollars, and, Individual marginal benefit is, 10 dollars, are briefly highlighted.
(Speaker)
Since the marginal cost is greater than the marginal benefit, we can conclude an individual will choose to not hire any security guards.
(Description)
The cells in the fifth row, Marginal cost is, 150, and, Individual marginal benefit is, 10, are labeled as Since the MC is greater than the individual marginal benefit, the individual would choose not to hire any security guards.