If a scalper for the Super Bowl is able to charge $5,000 for a front-row seat, this suggests that
A. at the regular price, the quantity of Super Bowl tickets demanded equals the quantity supplied.
B. at the regular price, there is a shortage of Super Bowl tickets.
C. the scalper is making the football fan worse off.
D. at the regular price, there is a surplus of Super Bowl tickets.
Answer: B
Economics
You might also like to view...
Since being originally set in 1913, bank reserve requirements have
A) not been changed. B) been changed only once. C) been changed on numerous occasions. D) been changed on a daily basis.
Economics
Which of the following financial institutions pool deposits of customers and use the money to buy a portfolio of stocks or bonds or both?
A. Thrifts B. Brokerage firms C. Mutual funds D. Investment banks
Economics