Scenario: Suppose Major League Baseball (MLB) is considering expansion to a U.S. city that currently does not have a MLB franchise. The league has compiled the following information on five cities viewed as the top contenders for an expansion franchise:
MLB decides Charlotte is the most attractive candidate to receive an expansion franchise and is contemplating how demographic and economic information is likely to affect demand to attend MLB games in Charlotte.
-Refer to the scenario above.Suppose Charlotte's NBA franchise,the Charlotte Hornets,decides to relocate to Seattle,Washington.How will the city's loss of this professional sports franchise affect demand for MLB game attendance in Charlotte?
A) Cause an increase in only quantity demanded
B) Cause an increase in demand
C) Cause a decrease in only quantity demanded
D) Cause a decrease in demand
Correct Answer:
Verified
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