Suppose the National Football League (NFL) wants to enable all football fans to attend the Super Bowl. The league therefore sets the price of a Super Bowl ticket below what is generally considered a fair market price. Suppose the price of a ticket for a regular seat at the Super Bowl is set at just $500. People who have tickets, however, can turn around and sell them online for $2,500 each, or more. If there are no transaction costs associated with online sales of Super Bowl tickets, the true cost to a fan of attending the Super Bowl is:
A) at most $500.
B) at least $2,500.
C) the monetary price paid to obtain the ticket.
D) $2,000 less than the opportunity cost of a ticket.
Correct Answer:
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