4.In Norah Jones' (you know, the musical artist who created the hit songs "Come Away With Me" and "Don't Know Why") national concert tour she sold an average of 2/3 of the tickets available, meaning 1/3 of seats were left empty at a typical concert.

a.(4) Suppose the local promoter of each concert is a monopolist with a fixed number of seats in each concert hall.Also suppose the promoter's cost is independent of the number of people who attend the concert (Norah Jones received a flat payment independent of the number of tickets sold).If the concert charges a single market price, what factors are considered in determining the profit maximizing price?Would the failure to sell out the concert suggest that the monopoly set too high a price?

b.(3) Does the amount of Norah Jones' flat payment influence the profit maximizing price?Explain.

c.(3) How do your answers to part a. change if the concert hall can perfectly* price discriminate?*In reality nothing is ever actually perfect, not even at a Norah Jones concert .