Table 7-7
-Refer to Table 7-7. 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. Who makes the winning bids, and what do they offer to pay for the tickets?
A)Michael and Earvin; more than $350 but less than or equal to $400
B)Michael and Earvin; more than $400 but less than or equal to $500
C)Earvin and Larry; more than $300 but less than or equal to $350
D)Larry and Charles; less than $300

Question

Table 7-7 
-Refer to Table 7-7. 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. Who makes the winning bids, and what do they offer to pay for the tickets?
A)Michael and Earvin; more than $350 but less than or equal to $400 
B)Michael and Earvin; more than $400 but less than or equal to $500 
C)Earvin and Larry; more than $300 but less than or equal to $350 
D)Larry and Charles; less than $300

Quizplus · Accepted Answer

The Answer of Table 7-7 
-Refer to Table 7-7. 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. Who makes the winning bids, and what do they offer to pay for the tickets?
A)Michael and Earvin; more than $350 but less than or equal to $400 
B)Michael and Earvin; more than $400 but less than or equal to $500 
C)Earvin and Larry; more than $300 but less than or equal to $350 
D)Larry and Charles; less than $300

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