Multiple Choice
One In the News article in the text titled "The Real March Madness: Ticket Prices " described how professional scalpers use the Internet to sell hard-to-get tickets to concerts and sporting events.Apparently the initial price of the tickets being scalped was too
A) Low for equilibrium,resulting in a surplus of tickets.
B) Low for equilibrium,resulting in a shortage of tickets.
C) High for equilibrium,resulting in a surplus of tickets.
D) High for equilibrium,resulting in a shortage of tickets.
Correct Answer:
Verified
Correct Answer:
Verified
Q12: A leftward shift of the market demand
Q13: If there is a surplus at a
Q14: If the government required the actual market
Q15: If a price ceiling is to be
Q16: When the market mechanism is allowed to
Q18: Refer to Table 3.1 to answer
Q19: Which panel of Figure 3.3 represents the
Q20: A lower quantity demanded of a good
Q21: Ceteris paribus,an increase in the number of
Q22: A rightward shift in a demand curve