In One Year,15 Bowling Alleys Opened in California

question 130

Multiple Choice

In one year,15 bowling alleys opened in California.During that same year,ESPN started broadcasting professional bowling on TV,which sparked more interest in the sport.What would we expect to happen to the price and quantity of a game of bowling in California during that year?

• A) Equilibrium price will be indeterminate and equilibrium quantity will go down.
• B) Equilibrium price will go up and equilibrium quantity will go up.
• C) Equilibrium price will go down and equilibrium quantity will be indeterminate.
• D) Equilibrium price will be indeterminate and equilibrium quantity will go up.
• E) Equilibrium price will go up and equilibrium quantity will be indeterminate.

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Definitions:

Online Shopping

The act of purchasing goods or services over the internet, involving the search, selection, and payment of products via electronic platforms.

Time Utility

The value added to products or services by making them available at a convenient time for consumers.

Nonstore Retailing

Retail operations that sell products to consumers through channels other than traditional brick-and-mortar stores, such as online shopping, catalog mail order, and direct selling.

Vending Machines

Automated machines that sell items such as snacks, beverages, and tickets to consumers after money, a credit card, or a specially designed card is inserted into the machine.