Economists See a Useful Service Being Performed by Ticket Scalpers

question 15

Multiple Choice

Economists see a useful service being performed by ticket scalpers, in that they

• A)lower the price to all consumers.
• B)raise the price so promoters get more money.
• C)adjust a price that a promoter has set too low.
• D)adjust a price that a promoter has set too high.

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Definitions:

Vocational School

An educational institution that provides practical and skills-based training aimed at preparing students for specific trades, professions, or careers.

Budgets

Financial plans that estimate revenue and expenditures over a specific period, helping organizations plan their finances.

Standard Costs

Predetermined costs for materials, labor, and overhead used for budgeting and assessing performance.

Variable Overhead

Costs that vary with the level of production output, such as utilities and commissions.