The Number of People Willing to Buy Tickets to the Super

question 280

Multiple Choice

The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is

• A) higher than the equilibrium price.
• B) equal to the equilibrium price since the number of tickets bought equals the number sold.
• C) lower than the equilibrium price.
• D) higher than the equilibrium price when the demand is inelastic but lower when the demand is elastic.

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