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Your favorite band is playing in town but you dragged your feet and didn't buy tickets, it's the day of the concert and you decide to metro to the concert venue to see if you can buy a ticket from someone

Economics Nov 04, 2020

Your favorite band is playing in town but you dragged your feet and didn't buy tickets, it's the day of the concert and you decide to metro to the concert venue to see if you can buy a ticket from someone. Upon gesting there, you find the cheapest ticket on offer is for $115. You decide it's not worth spending that much to see the concert and trudge back towards the metro. A car drives by and the occupant shouts, it's your lucky day and tosses an envelope your way. You open it and find a ticket to the concert. A passerby sees what happened and offers to buy the ticket from you for $115. ca) Would you attend the concert and not sell the ticket? (b) Should you attend the concert? Explain your answer to part b) carefully, your answer to part() can just be a "yes" or a no Assume there is no pandemic of any sort to worry about

Expert Solution

Ans:-

(a):- Yes

(b):- Yes, because that the ticket is almost free of cost which could be used for concert. Before this ticket isn't worth because that all things considered money need to paid for that ticket.

But in this case, for this situation, no cost is caused that is the reason concert should to be attended.

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