Discussion about tickets to the beyonce concert, Other Subject

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Discussion about tickets to the beyonce concert

Problem: You won a free ticket to see a Rihanna concert (assume the ticket has no resale value). Beyonce has a concert the same night, and this represents your next-best alternative activity. Tickets to the Beyonce concert cost $80, and on any particular day, you would be willing to pay up to $100 to attend Beyonce's concert.

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