Which of the following is an example of a market solution to a queuing problem?
a. selling discounted televisions to the first shoppers to grab them
b. paying premium prices for reserved seats to avoid lines at a sporting event
c. selling concert tickets to the first 500 people in line
d. paying a lower price to buy general admission tickets instead of first-class seats
b. paying premium prices for reserved seats to avoid lines at a sporting event
You might also like to view...
As the economy recovers from a recession, we should expect that demand for:
a. inferior goods will fall and demand for non-inferior goods will rise. b. all goods will rise. c. inferior goods will rise and demand for non-inferior goods will fall. d. all goods will fall. e. complements will fall.
A monopolist produces ________ than a perfectly competitive firm, and charges a ________ price
a. less; higher b. less; lower c. more; higher d. more; lower