The Number of Seats Available in an Arena Is Fixed

question 73

Multiple Choice

The number of seats available in an arena is fixed at 20,000. The equilibrium price for a ticket to a basketball game at the arena is $75. The equilibrium price for a ticket to the circus at the arena is $25. Which of the following is true?

• A) Basketball games must be more expensive to produce than a circus performance.
• B) The demand for each basketball game must be more than the demand for each circus performance.
• C) The supply of circus performances must be less elastic than the supply of basketball games.
• D) The demand for each circus performance must be greater than the demand for each basketball game.

---

Definitions:

Code Of Ethics

A set of principles and guidelines designed to help professionals conduct their business with integrity and honesty.

PR Profession

The public relations profession involves managing the public image and communications of individuals, organizations, or companies to build and maintain positive relationships with the public.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives, often involving weighing the risks and benefits of each option.

Ethics

A branch of philosophy dealing with what is morally right or wrong, encompassing principles like fairness, responsibility, and integrity.