(3) Willig is willing to pay as much as $130 to buy the last ticket to a music concert at Canada's Wonderland, while Norman is willing to pay as much as $200 for a ticket. Willig is first in line and buys a ticket for $110. He then resells his ticket to Norman for $170. Assume that both took rational decisions given their options. Willig by reselling his ticket rather than going to the concert himself, caused the total surplus, (a) to increase by $70 (b) to remain unchanged to increase by $90 to decrease by $20 to increase by $30 none of the options are correct (c) (d) (e) (f)

(3) Willig is willing to pay as much as $130 to buy the last ticket to a music concert at Canada's Wonderland, while Norman is willing to pay as much as $200 for a ticket. Willig is first in line and buys a ticket for $110. He then resells his ticket to Norman for $170. Assume that both took rational decisions given their options. Willig by reselling his ticket rather than going to the concert himself, caused the total surplus, (a) to increase by $70 (b) to remain unchanged to increase by $90 to decrease by $20 to increase by $30 none of the options are correct (c) (d) (e) (f)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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