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:
Shortage
A situation in which the demand for a product or service exceeds the available supply, often leading to higher prices or unmet consumer needs.
Organizational Flexibility
The ability of an organization to adapt rapidly and efficiently to changes in the internal and external environment.
HR Forecasting
The process of predicting an organization's future human resources needs based on current data, trends, and projected future events to ensure that the right number of people with the right skills are available when needed.
HR Strategies
Long-term plans designed to align human resource management with the overall goals of an organization to achieve competitive advantage.
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