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Assume a competitive market for tickets to see the Toronto Raptors. Assume quantities must be integers. Des and Flo each have six Raptors tickets. The table below gives the benefit that each person receives from each of her six tickets. (While Des receives a $117 benefit from her 3rd ticket if she keeps it, Flo receives a $93.50 benefit from her 3rd ticket if she keeps it.) What is the lowest market price at which a total of 5 tickets are supplied by the two individuals? Round to two decimal places, and do not enter the currency symbol. If your answer is $1.125, enter $1.13. Marginal Benefit Marginal Benefit Quantity Des Flo 1 $152 $110.50 2 $149 $99.50 3 $117 $93.50 $107 $80.50 $86 $72.50 $54 $60.50 5. 6

Assume a competitive market for tickets to see the Toronto Raptors. Assume quantities must be integers. Des and Flo each have six Raptors tickets. The table below gives the benefit that each person receives from each of her six tickets. (While Des receives a $117 benefit from her 3rd ticket if she keeps it, Flo receives a $93.50 benefit from her 3rd ticket if she keeps it.) What is the lowest market price at which a total of 5 tickets are supplied by the two individuals? Round to two decimal places, and do not enter the currency symbol. If your answer is $1.125, enter $1.13. Marginal Benefit Marginal Benefit Quantity Des Flo 1 $152 $110.50 2 $149 $99.50 3 $117 $93.50 $107 $80.50 $86 $72.50 $54 $60.50 5. 6

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter1: The Economic Approach
Section: Chapter Questions
Problem 3CQ
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O Question Feed N. The Effects of Inflation on the O supply, demand & equilibrium + urses/234684/quizzes/212897/take shoppingggggg9 日多伦多 phd Assume a competitive market for tickets to see the Toronto Raptors. Assume quantities must be integers. Des and Flo each have six Raptors tickets. The table below gives the benefit that each person receives from each of her six tickets. (While Des receives a $117 benefit from her 3rd ticket if she keeps it, Flo receives a $93.50 benefit from her 3rd ticket if she keeps it.) What is the lowest market price at which a total of 5 tickets are supplied by the two individuals? Round to two decimal places, and do not enter the currency symbol. If your answer is $1.125, enter $1.13. Marginal Benefit, Marginal Benefit Quantity Des Flo 1 $152 $110.50 $149 $99.50 $117 $93.50 4 $107 $80.50 $86 $72.50 6 $54 $60.50
Transcribed Image Text:O Question Feed N. The Effects of Inflation on the O supply, demand & equilibrium + urses/234684/quizzes/212897/take shoppingggggg9 日多伦多 phd Assume a competitive market for tickets to see the Toronto Raptors. Assume quantities must be integers. Des and Flo each have six Raptors tickets. The table below gives the benefit that each person receives from each of her six tickets. (While Des receives a $117 benefit from her 3rd ticket if she keeps it, Flo receives a $93.50 benefit from her 3rd ticket if she keeps it.) What is the lowest market price at which a total of 5 tickets are supplied by the two individuals? Round to two decimal places, and do not enter the currency symbol. If your answer is $1.125, enter $1.13. Marginal Benefit, Marginal Benefit Quantity Des Flo 1 $152 $110.50 $149 $99.50 $117 $93.50 4 $107 $80.50 $86 $72.50 6 $54 $60.50
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