Table 7-7 Buyer Willingness to Pay Michael $500 Earvin $400 Larry $350 Charles $300 Refer to Table 7-7. You have four essentially identical extra tickets to the Midwest Regional Sweet 16 game in the men’s NCAA basketball tournament. The table shows the willingness to pay of the four potential buyers in the market for a ticket to the game. You offer to sell the tickets for $325. How many tickets do you sell, and what is the total consumer surplus in the market?
a. three tickets; $225
b. two tickets; $225
c. one ticket; $175
d. three tickets; $275
d. three tickets; $275
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Answer the following statement true (T) or false (F)
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A. when saving equals zero. B. at every point on the saving function. C. at every point on the consumption function. D. at every point on the 45-degree line.
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A. $27.47 B. $26.92 C. $21.13 D. $26.40