When the Price Per Ticket Is P*, There Are Empty

question 215

Multiple Choice

When the price per ticket is P*, there are empty seats at a university's basketball arena.From this, we can conclude that

• A)P* is greater than the equilibrium price.
• B)P* is less than the equilibrium price.
• C)P* is the equilibrium price.
• D)it's not possible to determine anything about the equilibrium price with this information.

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