If a scalper for the Super Bowl is able to charge $10,000 for a front-row seat, this suggests that
A)at the regular price, there is a surplus of Super Bowl tickets.
B)at the regular price, there is a shortage of Super Bowl tickets.
C)at the regular price, the quantity of Super Bowl tickets demanded equals the quantity supplied.
D)the scalper is making the football fan worse off.

Question

Quizplus · Accepted Answer

If a scalper is able to charge such a high price for a front-row seat, it implies that the demand for Super Bowl tickets exceeds the supply at the regular price, indicating a shortage. The scalper's ability to charge such a high price is possible only because there are not enough tickets available at the regular price. Therefore, the answer is B.

If a Scalper for the Super Bowl Is Able to Charge