The figure above shows that for the 10,000th ticket, marginal benefit equals, and consumer surplus equals Price (dollars per ticket) 140 120 100 80 60 40 20 Market price D 0 2 4 6 8 10 12 14 16 Quantity (thousands of tickets)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter8: Cost Analysis
Section: Chapter Questions
Problem 2.2CE
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The figure above shows that for the 10,000th ticket, marginal benefit equals
and consumer surplus equals,
Cala
4
Price (dollars per ticket)
140
120
100
80
60
40
20
Market
price
0 2 4 6 8 10 12 14 16
Quantity (thousands of tickets)
Transcribed Image Text:The figure above shows that for the 10,000th ticket, marginal benefit equals and consumer surplus equals, Cala 4 Price (dollars per ticket) 140 120 100 80 60 40 20 Market price 0 2 4 6 8 10 12 14 16 Quantity (thousands of tickets)
a
b
C
$40; $40
$40; zero
$150,000; $150,000
zero; $40
Transcribed Image Text:a b C $40; $40 $40; zero $150,000; $150,000 zero; $40
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