Question
Suppose that Post Malone has scheduled the Runaway Tour concert in Montreal, Canada. A careful analysis of demand for tickets to his concert suggests that
Suppose that Post Malone has scheduled the "Runaway Tour" concert in Montreal, Canada. A careful analysis of demand for tickets to his concert suggests that demand for standing audience is described by Q1 = ^. while demand for sitting audience by Q2 = ^ . If the marginal cost of a ticket is $40, how should standing and sitting tickets to Post Malone's concert be priced to maximize profits?
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
