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Pages:
1 page/≈275 words
Sources:
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Style:
APA
Subject:
Mathematics & Economics
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.32
Topic:

Describe the Nature of the Concert as a Public Good

Essay Instructions:

First paragraph write about (make sure you answer all questions): A famous singer plans to perform a concert at a football stadium in the heart of a large city. The stadium has several high-rise buildings around it and hundreds of people in the upper floors of these buildings can potentially see inside the stadium.
Step 2 Discuss the distribution and delivery of public goods.
Address the following in your response:
Explain the "free-rider" problem in the context of this performance.
Describe the nature of the concert as a public good.
If you were in charge of ticket sales for this concert, how would you respond to a situation in which you had 1000 tickets left over the day before the show?
What would be your plan to maximize profits? How can external benefits be realized through the delivery of a public good or service?
Second paragraph: A student responded (below) use these instructions to respond: IN, addition to other comments you may have, address the following in your response posts:
What potential benefits do other students foresee as a result of this "free-rider" issue?
Do those benefits outweigh the financial loss being disputed?
Use any personal experience, if appropriate, to help support or debate other students' posts. If differences of opinion occur, debate the issues professionally and provide examples to support your opinions.
Students response: 
In this case with the concert at the stadium the people in the upper floors of the high-rise buildings will receive the benefits from the resources or services without contributing or paying for the cost of the benefit, this would be consider “free-rider.”
The nature of the concert as a public good is known as the natural monopoly goods. It’s a good that is non-rivival but excludable. With a concert more people don’t decrease the enjoyment of the others; also people can be excluded if they don’t pay for the benefits of the service.
If I had 1000 tickets left a day before the concert I would probably give an incentive to sale these tickets by using the free rider program, which is get two tickets for the price of one. Someone will be able to benefit from the concert without paying the full price.
I would reduce direct cost, negotiate lower prices with my suppliers in order to maximize by profits.

Essay Sample Content Preview:

Discussion 8
Name
Institutional Affiliation
The existence of high-rise buildings around the stadium posits a great challenge to the organizers of the concert. This is essentially because having a considerably large number of individuals enjoying the concert, albeit to a lesser degree than those inside, translates into financial losses to the organizers. The fact that these individuals can get to enjoy the concert free of charge from the comfort of a nearby building is detrimental to the success of the event in general. The presence of ‘free riders’ in this scenario is one that is almost impossible to solve. Unlike normal incidences where individuals attempt to sneak into concerts as ‘free riders’ this situation is almost impossible to control. The ‘free...
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