The graph below shows the market for tickets to a "Final Four" sports event. Assume that there is only one kind of ticket to the event.
The supply curve in this event-ticket market is vertical because
A) the organizers are selling a fixed number of tickets.
B) the organizers are charging a fixed price for the tickets.
C) there are a fixed number of buyers in the market.
D) the government has regulated the selling of the tickets.
Correct Answer:
Verified
Q52: In the market for sushi, an increase
Q54: In the market for sushi, an increase
Q56: In cases where the supply curve is
Q327: What would best explain why the equilibrium
Q328: If the price of oil increases significantly,
Q329: In the foreign exchange market, if Americans
Q330: In the foreign exchange market, if Canadian
Q333: The scalping of tickets for an event
Q334: The graph below shows the market for
Q337: In markets where the supply curve is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents