Multiple Choice
The graph below shows the supply and demand for tickets to a Raptors basketball game.
-Refer to the graph above to answer this question.All of the statements below,except one are correct.Which is the exception?
A) If the price of a ticket is $40 and demand is D3,then there will be 5,000 unsold tickets.
B) If the price of a ticket is $60 and demand is D2,then there is a shortage of 2,500 seats.
C) If the price of a ticket is $20 and demand is D1,then 5,000 people who would like to attend the game will not be able to unless they are able to buy a ticket from a scalper.
D) Any price under $40 will result in all the tickets being sold regardless of which of the three demand curves is considered.
Correct Answer:
Verified
Correct Answer:
Verified
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