Tickets to a sporting event go on sale and sell out almost instantly.This suggests 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.

Question

Quizplus · Accepted Answer

If tickets sell out almost instantly, it suggests that there is a high demand for the event but a limited supply of tickets available at the current price. This means that the price is likely below the equilibrium price, as if it were at equilibrium, the market would clear and all tickets would be sold without such rapid sell out. Therefore, B is the best choice.

Tickets to a Sporting Event Go on Sale and Sell