Figure 10-3

Bettye Babylon does not charge admission to her arboreal estate, the Hanging Gardens. Due to space limitations, Bettye only allows 200 visitors per day at her estate. The figure represents the supply and demand for admission to the Hanging Gardens.
-Refer to Figure 10-3.At a price of ________, there is a surplus of tickets.

Question

Figure 10-3
  
Bettye Babylon does not charge admission to her arboreal estate, the Hanging Gardens. Due to space limitations, Bettye only allows 200 visitors per day at her estate. The figure represents the supply and demand for admission to the Hanging Gardens.
-Refer to Figure 10-3.At a price of ________, there is a surplus of tickets.

Quizplus · Accepted Answer

A surplus occurs when the price is above the equilibrium price, leading to more supply than demand. At $25, the price is likely above equilibrium, causing a surplus of tickets.

Figure 10-3 Bettye Babylon Does Not Charge Admission to Her Arboreal Estate