Multiple Choice
Ingrid has been waiting for the show "Mamma Mia!" to come to town.When it finally does come,ticket prices are $60.Ingrid's reservation price is $75.But when Ingrid tries to buy a ticket,they are sold out.
Refer to the information above.The fact that Ingrid cannot buy a ticket to "Mamma Mia!" is evidence of:
A) Pareto efficiency in this market.
B) A price ceiling above the equilibrium price.
C) A situation that is not Pareto efficient.
D) The benefits of allocating resources on the first-come,first-served basis.
Correct Answer:
Verified
Correct Answer:
Verified
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