Final answer:
The scenario demonstrates a township buying a new asphalt road paver and the theoretical willingness of 10,000 townspeople to spend collectively up to $3 million to ensure the passage of a tax that would benefit them each by $300.
Step-by-step explanation:
The subject matter pertains to a township's decision to purchase a new asphalt road paver, worth $50,500, and the potential economics behind the decision for the townspeople to support a tax that would fund such a purchase. This scenario highlights a common theme in public finance and economics where the collective benefit to the townspeople theoretically justifies a significant investment. For example, if there are 10,000 townspeople who each stand to benefit by $300 if a tax to fund such purchases passes, they would theoretically be willing to spend up to $3 million to ensure its passage, although in practice, the actual amount they choose to spend might be less due to the lack of guarantees on the tax's success.