You offered $1200 for a camera on Ebay. You are willing to go up to a maximum price of $1300. Your offer is accepted, but only if you come and collect the camera tonight. However, you were planning to go to a concert of Enya for which you previously bought a ticket for $80. You were willing to pay $170 for a ticket to this concert. Now you can only sell the ticket for $60. Which choice should you make and how high are your "economic rents" in that case?
The answer is: Concert; $10. Could someone explain why?
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Answer: Concert $10
Explanation: So if you have $1200 for a camera on Ebay and you decided to go up i more which is you are adding. Then you go to the concert and you pay $80 for a ticket but you are willing to pay $170 a ticket for the concert and you sell $60 per 13600 tickets you now have $13660 becuase you sold all the tickets.
I think???
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