The 2005 Boston Globe Article Discussing Ticket Scalping Points Out

question 9

Multiple Choice

The 2005 Boston Globe article discussing ticket scalping points out that the price people will pay for tickets will rise when

• A)supply and demand are both limited.
• B)supply is limited and demand is not limited.
• C)supply is limited and demand is not limited
• D)supply and demand are both not limited.

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Definitions:

Quality Reduction

A strategy where businesses deliberately lower the quality of their products, often to reduce costs or drive short-term profits.

Price Increase

An upward adjustment in the price of a good or service, often due to factors like increased production costs or higher demand.

Behavioral Economists

Researchers who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Minimum Payments

The smallest amount of money that one is required to pay on a debt by a specified due date to avoid defaulting.