Mathematics
Mathematics, 16.11.2020 14:00, 19nnash

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. Each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. There is a fixed cost of $1,000 to attend the concert, but there are essentially no variable costs. For each concert:

• There are 150 students willing to pay $20.

• There are 200 staff members willing to pay $35.

• There are 120 faculty members willing to pay $50.

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