The Number of Seats in a Football Stadium Is Fixed

question 132

Multiple Choice

The number of seats in a football stadium is fixed at 70,000.The team raises the price of a ticket from $30,at which 70,000 are sold,to $40,and it sells 60,000 tickets.The price change caused a change in the consumer surplus of:

• A)-$10.
• B)-$650,000.
• C)-$100,000.
• D)-$10,000.

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Definitions:

Beaver Pelts

Beaver pelts refers to the fur of beavers, which was highly sought after for the manufacture of hats and garments, especially in the 17th and 18th centuries, driving the North American fur trade.

Sioux

A group of Native American tribes and First Nations peoples primarily inhabiting the Great Plains of the United States and Canada.

French

Relating to the people, language, or culture of France.

Southeast

A geographical region of the United States that includes states like Alabama, Georgia, and Mississippi, known for its distinct culture and history.