People scalping tickets for a rock concert can sell their tickets for at least a normal profit
A. when the price set by the concert hall is less than the market equilibrium price.
B. when prices are too high.
C. only when there is excess supply.
D. any time the rock group is popular.
Answer: A
Economics
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a. input-output tables b. corporate profits c. cost-benefit analysis d. government decisions e. all of the above
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The marginal rate of substitution is
A) equal to unit changes in the quantities of both goods so that utility rises. B) the slope of the budget line at all points. C) the change in the quantity of one good that just offsets a unit change in another good, keeping utility constant. D) found by adding additional units.
Economics