Suppose the Equilibrium Price of Movie Theater Tickets Is $4

question 93

Multiple Choice

Suppose the equilibrium price of movie theater tickets is $4.50 per ticket. The campus theater currently has its tickets priced at $3.00 per ticket. We would expect to find:

• A) excess supply and the price of tickets falling.
• B) excess supply and the price of tickets rising.
• C) excess demand and the price of tickets falling.
• D) excess demand and the price of tickets rising.

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