O Question FeedN. The Effects of Inflation on theO supply, demand & equilibrium+urses/234684/quizzes/212897/takeshoppingggggg9日多伦多 phdAssume a competitive market for tickets to see the Toronto Raptors. Assume quantities must beintegers.Des and Flo each have six Raptors tickets. The table below gives the benefit that each personreceives from each of her six tickets. (While Des receives a $117 benefit from her 3rd ticket if shekeeps it, Flo receives a $93.50 benefit from her 3rd ticket if she keeps it.)What is the lowest market price at which a total of 5 tickets are supplied by the two individuals?Round to two decimal places, and do not enter the currency symbol. If your answer is $1.125, enter$1.13.Marginal Benefit, Marginal BenefitQuantityDesFlo1$152$110.50$149$99.50$117$93.504$107$80.50$86$72.506$54$60.50

Answer - Need to find- Lowest market price at which 5 tickets are supplied Given in the question-

Answered: Assume a competitive market for tickets…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 3SCQ: Imagine that the government reworks the welfare policy that was affecting Jonathan in question 1, so...

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