Question
3.Concert promoters are monopolists, yet they often choose not to charge the profit-maximizing price for their concerts. Explain and illustrate with one or more diagrams
3.Concert promoters are monopolists, yet they often choose not to charge the profit-maximizing price for their concerts. Explain and illustrate with one or more diagrams how they set ticket prices, the impact their decision has on the size of the crowd, and the opportunity this situation creates for ticket scalpers.
4.Chicago teachers and sumo wrestlers were shown by Levitt and Dubner to have engaged in cheating when faced with powerful incentives.For one of these groups, describe the incentives they faced, their actions that were detected by our authors, and the results of this cheating. You might wish to use a force field analysis to illustrate the incentives and decision making by the participants (potential cheaters).
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