A typical university football program requires alumni to join one of several booster clubs (each club gets seats in different parts of the stadium) before the person can buy season tickets. What has this got to do with consumer surplus?
What will be an ideal response?
This pricing plan is a good example of two-part pricing. The football program can increase its profits by using the two-part tariff to convert some consumer surplus into profits or producer surplus. In addition to the per-unit price, the second price is the cost of joining one of the booster clubs.
Economics
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Any adult who does not have a job is counted as unemployed
a. True b. False Indicate whether the statement is true or false
Economics
If the price of the product produced by labor increases, the marginal revenue product of labor curve will
A. be unaffected because productivity of labor has not changed. B. become more elastic. C. shift to the left. D. shift to the right.
Economics