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Professor Smith has two tickets for a sold-out NBA night with your respective significant others. Of playoff game. The ticket is for the fifth game
Professor Smith has two tickets for a sold-out NBA night with your respective significant others. Of playoff game. The ticket is for the fifth game of the course, taking the significant other to an NBA playoff series and it could be the deciding game! Smith game would make a great impression. However, decided to give one ticket to each of the two top calling off the date and using the single ticket performing students in his negotiations class. yourself would make a very bad impression. As the Congratulations! You are one of those two students. recipient of one of the two tickets, you need the other However, Smith's generous and well meaning act has ticket, but then so does your classmate. How should created an unexpected problem: both you and the you resolve this quandary with your classmate? other winner had previously scheduled a date that Your Name 1. Assume that the sold out game is tomorrow night. Take a few moments and write down possible ways of resolving this situation. 2. The printed price on the ticket is $85. Now write down your answers to these questions: a. What is the maximum price you are willing to pay to buy the second ticket? $ b. What is the minimum price you are willing to take if you sell your ticket? c. What are the reasons for your maximum buy-price and your minimum sell-price
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