The Number of Seats Available in a Stadium Is Fixed

question 5

Multiple Choice

The number of seats available in a stadium is fixed at 80,000. The equilibrium price for a ticket to a football game at the stadium is $30. The equilibrium price for a ticket to a soccer match at the stadium is $10. Which of the following is true?

• A) Football games must be more expensive to produce than a soccer match.
• B) The demand for each football game must be more than the demand for each soccer match.
• C) The supply of soccer matches must be less elastic than the supply of football games.
• D) The demand for each soccer game must be greater than the demand for each football game.

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Definitions:

Successful Leader

An individual who achieves desired outcomes by effectively guiding or influencing the actions and beliefs of others.

Conceptual Skill

The ability to understand complex concepts and to see how they interrelate, enabling effective problem-solving and decision-making.

Abstract Thinking

The cognitive ability to understand concepts that are not grounded in physical reality, allowing for problem-solving and creativity.

First-level Management

The layer of management directly responsible for overseeing the performance of entry-level employees.