Table 4-6
A country club usually only allows members to purchase tickets for its celebrity golf tournament,but the club is considering allowing non-members to purchase tickets this year.The demand and supply schedules are as follows:

-Refer to Table 4-6.If both members and non-members are allowed to purchase tickets to this year's celebrity golf tournament and the country club sets the ticket price at $20,then there will be

Question

Table 4-6
A country club usually only allows members to purchase tickets for its celebrity golf tournament,but the club is considering allowing non-members to purchase tickets this year.The demand and supply schedules are as follows:
 
-Refer to Table 4-6.If both members and non-members are allowed to purchase tickets to this year's celebrity golf tournament and the country club sets the ticket price at $20,then there will be

Quizplus · Accepted Answer

At a price of $20, the quantity demanded by members is 800 and quantity demanded by non-members is 500, for a total demand of 1300. The quantity supplied is only 1000. Therefore, there is a shortage of 300 tickets.

Table 4-6 A Country Club Usually Only Allows Members to Purchase Tickets