If We Observe Long Lines of People Camping Out to Get

question 188

Multiple Choice

If we observe long lines of people camping out to get tickets to a concert, this tells us

• A) the ticket price is below the market equilibrium price.
• B) the ticket price is above the market equilibrium price.
• C) it is likely to be a good concert, but it doesn't tell us anything about the ticket price.
• D) the opportunity cost of time of the people in line is higher than the average for the general population.

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