Table 7-6 -Refer to Table 7-6.You Have Two Essentially Identical Extra Tickets

question 430

Multiple Choice

Table 7-6

-Refer to Table 7-6.You have two 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 hold an auction to sell the two tickets.Michael and Earvin each offer to pay $360 for a ticket,and you sell them the two tickets.What is the total consumer surplus in the market?

• A) $720
• B) $180
• C) $140
• D) $40

Apply critical thinking skills for effectively making decisions.

Grasp the necessity of a "beginner's mind" in learning and critical thinking.

Acknowledge the role of critical thinking in questioning and challenging traditional practices and beliefs.

Understand the importance of research and inquiry skills in critical thinking.

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