Suppose One of Baseball's Most Controversial Records - the Bonds

question 47

Multiple Choice

Suppose one of baseball's most controversial records - the Bonds' 72 home run season - were on the line. Tickets to the games leading up to breaking of the record might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it

• A)would make all ticket holders and potential buys worse off.
• B)would make all ticket holders and potential buys better off (or at least no worse off).
• C)cause the price to fall below the face value.
• D)cause the price to fall back to the face value.

---

Definitions:

New Businesses

Entities that have been recently established and are in the early stages of their operational and financial life cycle, facing unique challenges such as market entry and funding.

Credit Card Company

A financial institution that issues credit cards to consumers, offering a revolving line of credit that can be used to make purchases, transfer balances, and/or access cash advances.

Percentage Of Sale

A commission structure where payment is based on a percentage of the sales made.

Prestige Pricing

A pricing strategy where prices are set higher than average to present the image of exclusivity and high quality.