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.

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Definitions:

Severely Disturbed

Refers to individuals exhibiting extreme emotional, behavioural, or mental disorders, substantially impacting daily functioning.

Unconscious Psychological Processes

Mental activities beneath the conscious awareness that influence thoughts, feelings, and behaviors, central to psychoanalytic theories.

Mental Illness

Numerous mental health issues that modify mood, thinking, and behavioral patterns.

Psychotropics

Drugs that affect a person's mental state and are used to treat psychological disorders.