Homework Answers
a. Ans: Shortage
Explanation:
At a price below equilibrium price, quantity demanded will be more than quantity supplied. So, there will be a shortage.
b. Ans: $200,000
Explanation:
Profit = ($100 - $80) * 10,000 = $200,000
Add Answer to:
If the equilibrium price for tickets to a Taylor Swift concert is $100 each and she...
The graph illustrates the market for concert tickets Price (dollars per concert ticket) Suppose the current...
The graph illustrates the market for concert tickets Price (dollars per concert ticket) Suppose the current price of a concert ticket is $30 and 3 million concert tickets a year are bought. What do you predict will happen to the price of a concert ticket? O A. The shortage of concert tickets forces the price up. O B. It is impossible to say what will happen to the price of a concert ticket. O C. The price will not change...
] The graph illustrates the market for concert tickets. Price (dollars per concert ticket) 100 Suppose...
]
The graph illustrates the market for concert tickets. Price (dollars per concert ticket) 100 Suppose the current price of a concert ticket is $90 and 1 million concert tickets a year are bought. S 80- J What do you predict will happen to the price of a concert ticket? 60- 50 40- A. The surplus of concert tickets forces the price down. B. The shortage of concert tickets forces the price up. O C. The price will not change...
Taylor Swift is playing a concert at Suncorp Stadium in Brisbane. Tickets are $150 each, or...
Taylor Swift is playing a concert at Suncorp Stadium in Brisbane. Tickets are $150 each, or $500 each for the VIP Package which includes the opportunity to meet Taylor Swift. Select the item from the list provided to make the following statements true. - 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. ...
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10...
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p Cost to Firm: c(q) = 2.5q^2 + 100 Market Structure: Perfect Competition with N = 10 in the short run Market Equilibrium – Intersection of Market Demand and Market Supply e) How many tickets does each...
number 2 a-d 1) Suppose the second-hand market for concert tickets is perfectly competitive and there...
number 2 a-d
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p. Cost to Fim: (q) = 2.57% + 100. Market Structure: Perfect Competition with N = 10 in the short-run. 2) In the above question, suppose Ticketmaster bought all the second-hand ticketing websites, so...
i need help with number 2 a- d 1) Suppose the second-hand market for concert tickets is perfectly competitive and t...
i need help with number 2 a- d
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p. Cost to Fim: c(q) = 2.57% + 100. Market Structure: Perfect Competition with N = 10 in the short-run. 2) In the above question, suppose Ticketmaster bought all...
Suppose that Rihanna sells 1,000 tickets to a concerts at $480 each If the equilibrium price...
Suppose that Rihanna sells 1,000 tickets to a concerts at $480 each If the equilibrium price is $600 per ticket for a fixed supply of 1,000 tickets, what is the value additional economic rent that Rihanna could earn if she charged the market clearing price? OA. $480,000 OB, $600,000 C. $1,080,000 OD, $120,000
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10...
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p Cost to Firm: c(q) = 2.5q^2 + 100 Market Structure: Perfect Competition with N = 10 in the short run Supply – Firm and Market a) Derive the supply curve for each firm given its MC....
25. If the government believes that a market equilibrium price is too low, it can Implement...
25. If the government believes that a market equilibrium price is too low, it can Implement a . The trade-off for this is that it will create a a. Price ceiling; shortage b. Price ceiling; surplus c. Price floor; shortage d. Price floor; surplus 26. Deadweight loss occurs because a. Consumer surplus and producer surplus are not equal. me consumers are willing to pay more than some producers are willing to accept, but they do not exchange. c. The government...
The graph illustrates the market for magazine subscriptions. Price (dollars per magazine subscription) 100- Suppose the...
The graph illustrates the market for magazine subscriptions. Price (dollars per magazine subscription) 100- Suppose the current price of a magazine subscription is $70 and 3 million magazine subscriptions a year are bought. S 80- What do you predict will happen to the price of a magazine subscription? 60- A. The shortage of magazine subscriptions forces the price up 50 B. It is impossible to say what will happen to the price of a magazine subscription. 40- C. The surplus...
The graph illustrates the market for concert tickets Price (dollars per concert ticket) Suppose the current price of a concert ticket is $30 and 3 million concert tickets a year are bought. What do you predict will happen to the price of a concert ticket? O A. The shortage of concert tickets forces the price up. O B. It is impossible to say what will happen to the price of a concert ticket. O C. The price will not change...
]
The graph illustrates the market for concert tickets. Price (dollars per concert ticket) 100 Suppose the current price of a concert ticket is $90 and 1 million concert tickets a year are bought. S 80- J What do you predict will happen to the price of a concert ticket? 60- 50 40- A. The surplus of concert tickets forces the price down. B. The shortage of concert tickets forces the price up. O C. The price will not change...
number 2 a-d
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p. Cost to Fim: (q) = 2.57% + 100. Market Structure: Perfect Competition with N = 10 in the short-run. 2) In the above question, suppose Ticketmaster bought all the second-hand ticketing websites, so...
i need help with number 2 a- d
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p. Cost to Fim: c(q) = 2.57% + 100. Market Structure: Perfect Competition with N = 10 in the short-run. 2) In the above question, suppose Ticketmaster bought all...
Suppose that Rihanna sells 1,000 tickets to a concerts at $480 each If the equilibrium price is $600 per ticket for a fixed supply of 1,000 tickets, what is the value additional economic rent that Rihanna could earn if she charged the market clearing price? OA. $480,000 OB, $600,000 C. $1,080,000 OD, $120,000
25. If the government believes that a market equilibrium price is too low, it can Implement a . The trade-off for this is that it will create a a. Price ceiling; shortage b. Price ceiling; surplus c. Price floor; shortage d. Price floor; surplus 26. Deadweight loss occurs because a. Consumer surplus and producer surplus are not equal. me consumers are willing to pay more than some producers are willing to accept, but they do not exchange. c. The government...
The graph illustrates the market for magazine subscriptions. Price (dollars per magazine subscription) 100- Suppose the current price of a magazine subscription is $70 and 3 million magazine subscriptions a year are bought. S 80- What do you predict will happen to the price of a magazine subscription? 60- A. The shortage of magazine subscriptions forces the price up 50 B. It is impossible to say what will happen to the price of a magazine subscription. 40- C. The surplus...
Most questions answered within 3 hours.
-
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 45 minutes ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 44 minutes ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 48 minutes ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 56 minutes ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 59 minutes ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 1 hour ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 1 hour ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 1 hour ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 1 hour ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 1 hour ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 1 hour ago -
Costing Models You work for XYZ trucking and your boss has asked
you to figure out...
asked 1 hour ago