Tickets to a sporting event go on sale and sell out almost instantly.This implies that
A) There are too many tickets to the event.
B) The price for the tickets is below the equilibrium price.
C) The tickets must be very expensive.
D) There is a surplus of tickets.
Correct Answer:
Verified
Q46: At the equilibrium price,there are
A)Shortages.
B)Surpluses.
C)Excess inventories.
D)No shortages
Q54: The term market mechanism refers to
A)The use
Q55: When a surplus exists for a product,
A)Producers
Q57: A market is said to be in
Q58: If there is a surplus at a
Q62: Assume milk is used to produce ice
Q63: An increase in the equilibrium price of
Q69: As a result of a shortage,
A)Consumers increase
Q75: A rightward shift of the market demand
Q76: Suppose both the demand for and supply
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