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When the Price Per Ticket Is P*, There Are Empty

Question 255

Multiple Choice

When the price per ticket is P*, there are empty seats at a university's basketball arena.From this, we can conclude that


A) P* is greater than the equilibrium price.
B) P* is less than the equilibrium price.
C) P* is the equilibrium price.
D) it's not possible to determine anything about the equilibrium price with this information.

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