Question
Assume a competitive market for tickets to see the New York Knicks. Assume quantities must be integers. Ds and Flo each have six Knicks
Assume a competitive market for tickets to see the New York Knicks. Assume quantities must be integers. Ds and Flo each have six Knicks tickets. The table below gives the benefit that each person receives from each of her six tickets. (While Des receives a $119 benefit from her 3rd ticket if she keeps it, Flo receives a $87.50 benefit from her 3rd ticket if she keeps it.) What is the lowest market price at which a total of 5 tickets are supplied by the two individuals? Round to two decimal places, and do not enter the currency symbol. If your answer is $1.125, enter $1.13. Quantity 1 2 3 4 5 6 Marginal Benefit Des $161 $147 $119 $108 $78 $62 Marginal Benefit FIO $111.50 $100.50 $87.50 $79.50 $70.50 $57.50
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