Use the Following Information to Answer the Questions

question 40

Multiple Choice

Use the following information to answer the questions:
The accompanying figure depicts the demand (D) curve for general admission concert tickets to see ECON-Jammin', the world's first economics rock band, which is scheduled to visit your city next month. The concert venue can accommodate 100 fans with a marginal cost (MC) of $10 per person.
-ECON-Jammin' has recently discovered that its fans are made up of two distinct groups, which they can easily distinguish. They have decided to utilize their economic knowledge and offer a high-priced ticket of $40 per person and a low-priced ticket of $20 per person. Based on this information, what is the net revenue earned by the sales of the low-priced ticket?

• A) $200
• B) $300
• C) $400
• D) $500
• E) $600

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Definitions:

Brain Parts

Various anatomical regions and structures within the brain, each serving specific functions in the nervous system.

Neuropsychological Research

The study of the relationship between brain functions and behaviors, often through the use of cognitive tests and brain imaging.

Visual Imagery

The formation of mental images or visual scenes in one's mind, which does not involve the direct role of sight.

Visual Imagery

The mental representation and simulation of sensory experiences, particularly those involving sight, in the absence of direct sensory input.