Question
Adele is set to go on a massive music tour throughout 2016. She performed 3 concerts at the O2 Arena in London. The arena has
Adele is set to go on a massive music tour throughout 2016. She performed 3 concerts at the O2 Arena in London. The arena has a capacity of 20,000 people and tickets were originally sold for $95 per ticket. All 3 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 $123 per ticket (where total tickets sold would = 0 if the ticket price was any more). Assuming a linear demand curve, what was the consumer surplus from all 3 concerts.Answer to the nearest whole number (with no decimal places).
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