Multiple Choice
Suppose the equilibrium price of tickets to a Shania Twain concert is $40 per ticket. Currently tickets are priced at $55 per ticket. We would expect to find:
A) excess supply and the price of tickets falling.
B) excess supply and the price of tickets rising.
C) excess demand and the price of tickets falling.
D) excess demand and the price of tickets rising.
Correct Answer:
Verified
Correct Answer:
Verified
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