Question

Suppose on Friday night you have a choice to go either to a Katy Perry concert or a Lady Gaga concert. You won a free ticket to see Katy Perry. You would pay as much as $200 to see Lady Gaga perform, but tickets to her show cost $100 . Assume that you end up going to the Katy Perry concert. Since you went to the Katy Perry concert, you must be willing to pay at least $ to see Katy Perry.

Answer 1

Answer:

Since you went to Katy Perry concert, you must be willing to pay at slightest $100 to see Katy Perry.  You want to go to Lady Gaga concert and you're prepared to pay as much as $200 to see her appear, indeed in spite of the fact that the section ticket expense is $100. This implies that, you simply must be willing to pay at slightest $100 to see another appear, in case you choose to grant up Lady Gaga show.

Answer 2

You won a free ticket, you would not have to pay anything as long as you are going by yourself and do not buy any food, merchandise, or other items available for sale at the concert.