After tickets for a major sporting event are purchased at the official box office price, a market often develops whereby these tickets sell at prices well above the official box office price
Which of the following scenarios would NOT be able to explain this result? A) The official price was below equilibrium from the moment the tickets were available.
B) Increased publicity causes the demand curve for the event to shift rightward.
C) The event was not a sellout.
D) Not everyone who wanted a ticket was able to buy one at the box office.
C
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National accounts measure ________
A) the labor force participation rate in a country B) the total amount of capital goods available in a country C) the level of aggregate economic activity in a country D) the total money supply in a country
Economists typically define money as:
A. anything in which its value can be inflated. B. a means of payment that lacks intrinsic value. C. currency that is issued by a central bank. D. a widely accepted means of payment.