Refer to the information provided in Figure 26.6 below to answer the question(s) that follow. 
Figure 26.6
-Refer to Figure 26.6. Suppose the equilibrium price level is 110. An increase in wages and an increase in government spending will, for sure, increase
Definitions:
Opportunity Cost
The cost of foregoing the next best alternative when making a decision or choice.
Ticket Price
The cost charged for admission to an event or access to a service.
Value Of Time
The economic worth assigned to time, reflecting what is foregone in engaging in a particular activity versus alternative uses.
Scarce Resources
Economic concept describing materials or services in limited availability relative to desired uses, necessitating allocation.
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