Tickets to a University Football Game Always Sell Out

question 72

Multiple Choice

Tickets to a university football game always sell out.In this case,the:

• A) demand for tickets is highly inelastic.
• B) demand for tickets is highly elastic.
• C) supply of tickets is highly inelastic.
• D) supply of tickets is highly elastic.

---

Definitions:

Semiannually Compounded

Interest calculation method where the interest earned is added to the principal twice per year, effectively growing the investment more quickly than simple interest.

Compound Annual

A calculation of the total compound interest earned or payable over a period of one year.

Hourly Wage

The amount of money paid for each hour of work, commonly used in part-time and some full-time employment.

Semiannual Compounding

A method of calculating interest where the capital is compounded twice a year.