Suppose Kristin has purchased a non-refundable and non-transferable ticket for the new Fast and Furious movie...

 

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Suppose Kristin has purchased a non-refundable and non-transferable ticket for the new Fast and Furious movie at a local movie theater. The cost of her ticket was $10 and if she attends the movie it will cost her an additional $10 in transportation costs. All told, her maximum willingness to use her ticket and see the movie at the local theater is $100. After purchasing this movie ticket, suppose Kristin is then offered tickets to attend an Orioles game and the Orioles game is the same time as her tickets for Fast and Furious. Assuming the cost of the Orioles ticket is $20, transportation costs are $10, and her maximum willingness to pay for the Orioles tickets is $500, what is the total economic cost to Kristin of attending the Orioles game? Enter a number. Suppose Kristin has purchased a non-refundable and non-transferable ticket for the new Fast and Furious movie at a local movie theater. The cost of her ticket was $10 and if she attends the movie it will cost her an additional $10 in transportation costs. All told, her maximum willingness to use her ticket and see the movie at the local theater is $100. After purchasing this movie ticket, suppose Kristin is then offered tickets to attend an Orioles game and the Orioles game is the same time as her tickets for Fast and Furious. Assuming the cost of the Orioles ticket is $20, transportation costs are $10, and her maximum willingness to pay for the Orioles tickets is $500, what is the total economic cost to Kristin of attending the Orioles game? Enter a number.

Answer rating: 100% (QA)

Answer 40 She have already purchased the ticket for ... View the full answer