The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is
a. higher than the equilibrium price.
b. equal to the equilibrium price since the number of tickets bought equals the number sold.
c. lower than the equilibrium price.
d. higher than the equilibrium price when the demand is inelastic but lower when the demand is elastic.
C
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Indicate whether the statement is true or false
Which of the following examples definitely illustrates an appreciation of the U.S. dollar?
A) The dollar exchanges for 120 euros and then exchanges for 100 euros. B) The dollar exchanges for 100 yen and then exchanges for 125 euros. C) The dollar exchanges for 1 pound and then exchanges for 1.2 pounds. D) none of the above