The NFL wants to give the "common fan" the opportunity to attend the Super Bowl, so it sets Super Bowl prices "low"-tickets for a regular seat at Super Bowl XXXVII cost just $400. Scalpers, however, sell tickets for $1,500 or more. If there are no transaction costs to selling a ticket, the true cost of a regular ticket to Super Bowl XXXVII is:
A) at most $400.
B) at least $1,500.
C) the monetary price paid to obtain the ticket.
D) $1,100 less than the opportunity cost of a ticket.

Question

The NFL wants to give the "common fan" the opportunity to attend the Super Bowl, so it sets Super Bowl prices "low"-tickets for a regular seat at Super Bowl XXXVII cost just $400. Scalpers, however, sell tickets for $1,500 or more. If there are no transaction costs to selling a ticket, the true cost of a regular ticket to Super Bowl XXXVII is:
A) at most $400.
B) at least $1,500.
C) the monetary price paid to obtain the ticket.
D) $1,100 less than the opportunity cost of a ticket.

Quizplus · Accepted Answer

The Answer of The NFL wants to give the "common fan" the opportunity to attend the Super Bowl, so it sets Super Bowl prices "low"-tickets for a regular seat at Super Bowl XXXVII cost just $400. Scalpers, however, sell tickets for $1,500 or more. If there are no transaction costs to selling a ticket, the true cost of a regular ticket to Super Bowl XXXVII is:
A) at most $400.
B) at least $1,500.
C) the monetary price paid to obtain the ticket.
D) $1,100 less than the opportunity cost of a ticket.

The NFL Wants to Give the "Common Fan" the Opportunity