“I paid three C-notes for each ticket—I don’t want to miss the game!” This was Charlie’s reaction upon being informed by his assistant that a major client had unexpectedly arrived in town and wanted to have dinner with Charlie. The client was in town briefly and had a full schedule. Dinner was the only available time that the client could meet with Charlie.
Charles Watson III is the scion of a publishing family. As vice president of marketing, Charlie has propelled his company to the forefront of e-publishing. This particular client controls major magazines, and Charlie is in the thick of negotiating an important contract with her company. However, Charlie also is a die-hard Knick’s fan and had worked his contacts to obtain the two center-court playoff tickets he referred to in his outburst.
Note: A “C-note” or just “C” is slang for $100, as the Roman numeral system uses the letter “C” to denote a hundred. The Knicks, based in New York, are part of the National Basketball Association and a high-powered team with a loyal following.

Required:
a. Does Charlie’s decision deal with excess supply or excess demand?
b. Is the price paid for the two Knicks tickets ($600) relevant to Charlie’s decision?
b. What are the qualitative factors that are likely to guide Charlie’s decision?