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:

Relational

Pertaining to or concerning the way in which two or more concepts, objects, or people are connected.

Prospective

Relating to or effective in the future; oriented towards potential developments or occurrences.

Retrospective

An analysis or review of past events, aimed at gaining insights or understanding for future improvements.

Identity

The way an individual or group perceives themselves, often shaped by cultural, social, and personal factors and can influence behavior and interactions.