Refer to the Article Summary. Based on the difference between the face value of Super Bowl tickets and the prices being charged in the resale market, the demand at the face value of the tickets is
A) elastic. B) unit elastic. C) inelastic. D) perfectly elastic.
C
Economics
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What does elasticity of demand measure?
(A) The amount of time consumers need to change their demand for a good. (B) A decrease in the quantity demanded. (C) An increase in the quantity available. (D) How buyers will cut back or increase their demand when price rises or falls.
Economics
Which of the following is an example of a commodity money?
A) gold coins B) dollar bills C) British pound notes D) Japanese yen notes
Economics