Question

The existence of long lines at ticket offices of people trying to buy more playoff game tickets than there are seats in the arena, clearly indicates that

a. people always want to see playoff games
b. the price of the playoff game tickets is above the equilibrium price
c. the price of the playoff game tickets is below the equilibrium price
d. the playoff game tickets are priced at the market equilibrium price.

Answer 1

definetly not d

Answer 2

I think its A or B, not sure though

Answer 3

equilibrium price is where the quantity of goods supplied is equal to the quantity of goods demanded

Answer 4

In this case it the quantity of goods demanded is more

Answer 5

thanks

Answer 6

I don't even know what this is lol

Answer 7

^

There is a shortage essentially. 'more playoff game tickets than there are seats in the arena'

means Qs<Qd, darkknight is right

Graphically, that maps out a shortage situation



Price is less that market equilibrium

Answer 8

so c

Answer 9

??

Answer 10

yes

Answer 11

thank you luvv <3 <3

Answer 12

<3 <3

Answer 13

?
what is <3 <3

Answer 14

hearts lol

Answer 15

do I want to know

Answer 16

oh

Answer 17

now isee