-In Exhibit F-1 a $25 ceiling price on campus rock concert tickets will yield a ticket surplus of 700 tickets.

Name: -In Exhibit F-1 a $25 ceiling price on campus rock concert tickets will yield a ticket surplus of 700 tickets.
Brand: Quizplus
Rating: 4.7 (45 reviews)

Question

Quizplus · Accepted Answer

A $25 ceiling price on campus rock concert tickets would likely cause a ticket shortage rather than a surplus, because the price ceiling set below the equilibrium price would increase the quantity demanded while decreasing the quantity supplied, leading to a shortage.

-In Exhibit F-1 a $25 Ceiling Price on Campus Rock