If a Scalper for the Super Bowl Is Able to Charge

question 101

Multiple Choice

If a scalper for the Super Bowl is able to charge $10,000 for a front-row seat, this suggests that

• A)at the regular price, there is a surplus of Super Bowl tickets.
• B)at the regular price, there is a shortage of Super Bowl tickets.
• C)at the regular price, the quantity of Super Bowl tickets demanded equals the quantity supplied.
• D)the scalper is making the football fan worse off.

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Definitions:

Kant

Refers to Immanuel Kant, an 18th-century German philosopher known for his work in epistemology, ethics, and aesthetics.

Theoretical Standpoint

A perspective or viewpoint informed by a coherent set of theoretical ideas, often guiding analysis or interpretation.

Practical One

Refers typically to a person or approach that focuses on practical actions and solutions rather than theoretical or abstract ideas.

Aristotle

An ancient Greek philosopher and scientist, a student of Plato and teacher of Alexander the Great, known for his contributions to many fields of knowledge.