The Quantity of Tickets Demanded to the Super Bowl Is

question 25

Multiple Choice

The quantity of tickets demanded to the Super Bowl is always greater than the quantity supplied.Which of the following in the best explanation why the National Football League does not raise the price of tickets to the level where the quantity demanded equals the quantity supplied?

• A)Raising the price would reduce the demand for tickets; there would then be a surplus and the game would not sell out.
• B)The cost of raising the price and printing new tickets would exceed the revenue the NFL would receive from higher ticket prices.
• C)The demand for Super Bowl tickets is elastic; raising the price would reduce total revenue.
• D)The NFL is concerned that raising ticket prices would be considered unfair.

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Definitions:

Pleases Others

Pleases Others describes actions or behaviors specifically aimed at gaining approval, acceptance, or happiness from others, often prioritizing their satisfaction over one's own.

Conventional

Adhering to established practices or norms; something that is traditional or typical.

Moral Reasoning

The process of determining right from wrong in a given situation based on ethics and moral principles.

Formal Reasoning

The process of following logical steps to reach a conclusion, often used in mathematics and logic.