Macroeconomics
Macroeconomics
11th Edition
ISBN: 9781260506891
Author: Colander
Publisher: MCG
Question
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Chapter 5, Problem 2IP

(a)

To determine

Supply and demand for final four tickets.

(b)

To determine

Scalped price for tickets.

(c)

To determine

Effect of legalization of the scalped market.

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Students have asked these similar questions
The average ticket price for a concert at the opera house was $30. The average attendance was 5000. When the ticket price was raised to $33, attendance declined to an average of 4700 persons por performance. What should the ticket price be to maximize revenue for the opera house? (Assume a linear demand curve.) To maximize revenue, the price should be $ por ticket. (Type an integer or decimal rounded to two decimal places as needed. Simplify your answer.)
On average, 50 people go to the movies when the ticket is $6.50 and 250 go when the ticket price is 8.75$. does this scenario violage the Laws of Supply and Demand? Carefully explain your response. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
According to the readings, which of the following would likely NOT occur if college athletes could be paid in competitive markets? a. College coaches would earn lower salaries b. Subsidies from the academic side could increase c. Ticket prices would rise to cover the players’ salaries (assuming fan demand is unchanged) d. Fewer universities would have football programs
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