Table 7-4 The numbers in Table 7-1 reveal the maximum willingness to pay for a ticket to a Chicago Cubs vs. St. Louis Cardinal's baseball game at Wrigley Field. Buyer Willingness to Pay Jennifer $10 Bryce $15 Dan $20 David $25 Ken $50 Lisa $60 Refer to Table 7-4. If you have two (essentially) identical tickets that you sell to the group in an auction, what will be the selling price for each ticket? O a. $21 O b. $26 O c. $51 O d. $61

Table 7-4 The numbers in Table 7-1 reveal the maximum willingness to pay for a ticket to a Chicago Cubs vs. St. Louis Cardinal's baseball game at Wrigley Field. Buyer Willingness to Pay Jennifer $10 Bryce $15 Dan $20 David $25 Ken $50 Lisa $60 Refer to Table 7-4. If you have two (essentially) identical tickets that you sell to the group in an auction, what will be the selling price for each ticket? O a. $21 O b. $26 O c. $51 O d. $61

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Table 7-4
The numbers in Table 7-1 reveal the maximum willingness to pay for a ticket to a Chicago Cubs vs. St. Louis Cardinal's baseball game at Wrigley Field.
Buyer
Willingness to Pay
Jennifer
$10
Bryce
$15
Dan
$20
David
$25
Ken
$50
Lisa
$60
Refer to Table 7-4. If you have two (essentially) identical tickets that you sell to the group in an auction, what will be the selling price for each ticket?
O a. $21
O b. $26
O c. $51
O d. $61

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