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# Wossamotta U has student demand for its football tickets of x 20 P where x is the number of tickets in thousands and P is the price per ticket

Wossamotta U. has student demand for its football tickets of x = 20 - ½ P where x is the number of tickets in thousands and P is the price per ticket. Because of commitments to alumni and fat-cat donors, Wossamotta U. has only 16000 student seats available, a fixed supply. (Remember, the horizontal axis should be thousands of tickets.)

Now suppose the Student Government Association of Wossamotta is able to ram through a university by law making it illegal to charge students for tickets to university athletic events. To handle the allocation, the university administration imposes a student lottery. Every student&#39;s ID is put into the computer and 16000 are randomly drawn, with tickets mailed to the lucky winners. Is this an efficient allocation? Explain. (Ignore any costs associated with mailing.) "

Apr 23 2020 View more View Less