Question
Adele is set to go on a massive music tour throughout 2016. She performed at the O2 Arena in London, which has a capacity of
Adele is set to go on a massive music tour throughout 2016. She performed at the O2 Arena in London, which has a capacity of 20,000 and tickets were originally sold for $105 per ticket. All 16 concerts were sold out without any scalping (people who sell on tickets to consumers to make a profit) and the maximum a consumer was willing to pay per concert was $111 per ticket (where total tickets sold would = 0if the ticket price was any more).Assuming a linear demand curve, what was the consumer surplus fromoneconcert only?Answer to the nearest wholenumber (with no decimal places).
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