Table 7-7 
-Refer to Table 7-7. You have four essentially identical extra tickets to the Midwest Regional Sweet 16 game in the men's NCAA basketball tournament. The table shows the willingness to pay of the four potential buyers in the market for a ticket to the game. You offer to sell the tickets for $400. How many tickets do you sell, and what is the total consumer surplus in the market?
Definitions:
Operating Cycle
The total time period from the acquisition of resources for production to the collection of payments from the sale of the goods or services produced.
Sales
The total amount of goods or services sold by a company, also a critical indicator of a company's performance and market demand.
Cost of Goods Sold
Cost of Goods Sold is the total of all expenses directly related to the manufacturing or purchasing of products that a company sells during a period.
Days in Receivables
Days in Receivables, often referred to as Days Sales Outstanding (DSO), measures the average number of days it takes a company to collect payment after a sale has been made.
Q79: Refer to Scenario 6-2. Suppose the government
Q88: Refer to Figure 7-11. If the supply
Q139: An example of positive analysis is studying<br>A)how
Q197: Most economists are in favor of price
Q257: At the equilibrium price of a good,
Q271: Total surplus in a market will increase
Q337: Refer to Figure 7-21. When the price
Q356: Refer to Figure 7-22. At the equilibrium
Q450: A tax on sellers shifts the supply
Q591: The tax burden will fall most heavily