A Price Ceilling of $35 has been set by the Football ruling body for all games and is shown on the chart below. 44] 42- Ticket Price 40- 38- 36- 32- 30- 28- 26- 24- 22- 4200 7000 5600 Number of Tickets Sold 8400 With this price control in effect: What would be the market price?$ 37.00 What would be the number of tickets exchanged (Refer to Table 1)? 5040.00

A Price Ceilling of $35 has been set by the Football ruling body for all games and is shown on the chart below. 44] 42- Ticket Price 40- 38- 36- 32- 30- 28- 26- 24- 22- 4200 7000 5600 Number of Tickets Sold 8400 With this price control in effect: What would be the market price?$ 37.00 What would be the number of tickets exchanged (Refer to Table 1)? 5040.00

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 38P: Say that a certain stadium for professional football has 70,000 seals. What is the shape of the...

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With the information below and chart answer following questions. A Price Floor of $31 per ticket has been set by the Math ruling body for all games and is shown on the chart below. Q Ticket Price 36- 34- 32- 28- 26- 24- 22- 3200 4800 6400 Number of Tickets Sold 8000 With this price control in effect: What would be the market price?S What would be the number of tickets exchanged (Refer to Table 1)? tickets Is the market operating efficiently? Yes No Sometimes Cannot Determine
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