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The kennedy center is to see the plays thatare offered

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Museums and other non-profit organizations often have membershipfees. Members get benefits not available to non-members. Thisquestion examines the demand for memberships.Fred has $100 to spend on "other goods" or on plays at theKennedy Center. The price of an individual play is $20. Alternatively, Fredcan purchase a membership to the Kennedy Center for $50. If hepurchases the membership he can see all ten plays performed at theCenter during the coming year for no additional charge. Does consumertheory definitely predict that Fred will choose to become a member?Explain your answer carefully using an indifference curve diagram.(Assume that Fred has no particular desire to give a donation to supportthe arts. His only interest in the Kennedy Center is to see the plays thatare offered.

Reference no: EM13978399

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