Which of the following statements about ticket scalping is correct?
A. On economic grounds, ticket scalping does more harm than good among those who engage in it
B. Ticket scalping occurs when the event organizers set the formal price of the tickets higher than the equilibrium price
C. The existence of a scalpers' market could mean that the event sponsors/organizers are getting lower sales revenues that what they could have gotten at equilibrium
D. Ticket scalping obviously benefits the sellers/scalpers, but is often harmful to the ones buying the tickets
Answer: C
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Which of the following is a necessary condition for government subsidies to influence a firm to choose an output level as if it were a Stackelberg leader?
A) The subsidy must be announced before the firms choose output levels. B) The subsidy must be equal to the firm's marginal cost. C) The subsidy must be equal to the firm's rival's marginal cost. D) The firm does not have any fixed costs.
Other things equal, an increase in the consumer confidence index tends to raise the average propensity to consume
a. True b. False Indicate whether the statement is true or false