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Tickets for the 2019 MLS Cup Final Between Seattle and Toronto

Question 1

Multiple Choice

Tickets for the 2019 MLS Cup final between Seattle and Toronto went on sale on November 1 and sold out in just 20 minutes. The average resale price for tickets through SeatGeek, the official ticketing partner of Major League Soccer, was $569 just 2 days before the game, considerably higher than the average face-value price of tickets for the event. Sixty-nine thousand fans were expected to attend the game, making this the second-largest MLS Cup crowd in history.
Source: "Sold-out 2019 MLS Cup is the hottest ticket in recent MLS history," mlssoccer.com, November 10, 2019.
-Refer to the Article Summary. If Major League Soccer had increased the face-value ticket prices for the MLS Cup final to the prices being charged by resellers and its total revenue from ticket sales increased, it would have been operating on the ________ portion of the demand curve.


A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.

Correct Answer:

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