Question

Tickets to see Willie Nelson cost $40. On any given day, you would be willing to pay up to $50 to see and hear Willie Nelson perform. Assume there are no other costs of seeing either event. Based on this information, at a minimum, how much would you have to value seeing the Cubs play the White Sox to accept the ticket and go to the game

Answer 1

$40

Step-by-step explanation:

The Value to seeing the clubs play the White Sox must be valued at an amount that include the cost price at the minimum.The maximum the value would be $50 (at which any amount above this you will not be willing to accept the ticket).