The following are the prices paid for the American television broadcasting rights of the summer Olympics since 1980:

The following are the prices paid for the American televisionbroadcasting rights of the summer Olympics since 1980:Moscow—NBC agreed to pay $85 million; 1984 in LosAngeles—ABC paid $225 million; 1988 in Seoul—NBCpaid $300 million; 1992 in Barcelona—NBC paid $401million; 1996 through 2008—NBC will pay $3.6 billion;2010—NBC paid $820 million; 2012 in London—NBC willpay $1.18 billion for its American broadcast rights. Assumeyou have been charged with the responsibility of determiningthe IOC and local Olympic Committee’s asking pricesfor the Rio de Janeiro 2016 television broadcast rights forfi ve different markets: Japan, China, Australia, the EuropeanUnion, and Brazil. Determine a price for each, and justifyyour decisions.2. Your instructor may assign you to represent either the IOC orany one of the television networks in each of the fi ve countriesthat have been asked to bid for the broadcast rights forthe Rio de Janeiro 2016 Games. Prepare to negotiate pricesand other organizational details.