Table 7-6
-Refer to Table 7-6.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:
Distributive Negotiation
Win–lose negotiation in which a fixed number of assets is divided between parties.
Competition
The activity or condition of striving to gain superiority over others in the same field or market.
Collaboration
Working together with one or more individuals or groups to achieve a common goal or complete a task.
Distributive Negotiation
A negotiation strategy that views the resources being negotiated as fixed and limited, leading to a win-lose scenario between the parties.
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