Q477. This is one of a series of problems (469, 470, 471, 472, 473, 474, 475, 476, 478) relating to the same fictional case: The community of Ourville which is considering some options for creating parks to enhance the quality of life of local residents. The amounts are expressed in simple numbers – e.g., $100 – which you can assume to be referring to realistic amounts – e.g., hundreds of thousands.
Earlier in the process, two options were on the table for the community of Ourville. One proposal was for a pocket park that will cost only $10 and is projected to have $50 benefit — a benefit to cost ratio of 5 to 1. The other proposal is a more elaborate park that will cost $50 and have a benefit of $100 — a benefit to cost ratio of 2 to 1. The town budget could afford either project – either one pocket park or one larger park, but not both. What would you recommend and why?