The Number of Seats Available in an Arena Is Fixed

question 9

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 $80. The equilibrium price for a ticket to a hockey game at the arena is $95. Which of the following is true?

• A) Basketball games must be more expensive to produce than hockey games.
• B) The demand for hockey games must be more elastic than the demand for basketball games.
• C) The supply of hockey games must be less elastic than the supply of basketball games.
• D) The demand for each hockey game must be higher than the demand for each basketball game.

---

Definitions:

Douglas Conant

An American business executive known for his leadership roles at various companies, including as CEO of Campbell Soup Company.

10-Year Plan

A strategic framework set for a decade, outlining long-term goals, strategies, and milestones for future operations.

Campbell Soup Co.

An American processed food and snack company known for its iconic canned soups and related products.

Zone of Indifference

A concept in organizational behavior referring to the range of authoritative requests that an employee is willing to accept without critical assessment.