Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 2, Problem 2SQP
To determine
The free car.
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When goods are called homogenous. What does this actually means?
Suppose the National Football League (NFL) wants to make Super Bowl tickets affordable for more football fans. The league therefore sets
the price of a Super Bowl ticket below what is generally considered a fair market price. Suppose the price of a ticket for a regular seat at the
Super Bowl is set at just $500. People who have tickets, however, can turn resell them online for $2,500 each, or more. If there are no
transaction costs associated with online sales of Super Bowl tickets, the true cost to a fan of attending the Super Bowl is:
O at least $2,500.
O the monetary price paid to obtain the ticket.
at most $500.
$2,000 less than the opportunity cost of a ticket.
Suppose the National Football League (NFL) wants to make Super Bowl tickets affordable for more
football fans. The league therefore sets the price of a Super Bowl ticket below what is generally
considered a fair market price. Suppose the price of a ticket for a regular seat at the Super Bowl is set at
just $500. People who have tickets, however, can turn resell them online for $2,500 each, or more. If
there are no transaction costs associated with online sales of Super Bowl tickets, the true cost to a fan of
attending the Super Bowl is:
Chapter 2 Solutions
Micro Economics For Today
Ch. 2.6 - Prob. 1YTECh. 2.7 - Prob. 1GECh. 2 - Prob. 1SQPCh. 2 - Prob. 2SQPCh. 2 - Prob. 3SQPCh. 2 - Prob. 4SQPCh. 2 - Prob. 5SQPCh. 2 - Prob. 6SQPCh. 2 - Prob. 7SQPCh. 2 - Prob. 8SQP
Ch. 2 - Prob. 9SQPCh. 2 - Prob. 10SQPCh. 2 - Prob. 11SQPCh. 2 - Prob. 12SQPCh. 2 - Prob. 1SQCh. 2 - Prob. 2SQCh. 2 - Prob. 3SQCh. 2 - Prob. 4SQCh. 2 - Prob. 5SQCh. 2 - Prob. 6SQCh. 2 - Prob. 7SQCh. 2 - Prob. 8SQCh. 2 - Prob. 9SQCh. 2 - Prob. 10SQCh. 2 - Prob. 11SQCh. 2 - Prob. 12SQCh. 2 - Prob. 13SQCh. 2 - Prob. 14SQCh. 2 - Prob. 15SQCh. 2 - Prob. 16SQCh. 2 - Prob. 17SQCh. 2 - Prob. 18SQCh. 2 - Prob. 19SQCh. 2 - Prob. 20SQ
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