The graph below shows the supply and demand for tickets to a Raptors basketball game. -Refer to the graph above to answer this question.All of the statements below,except one are correct.Which is the exception? A)If the price of a ticket is $40 and demand is D₃,then there will be 5,000 unsold tickets. B)If the price of a ticket is $60 and demand is D₂,then there is a shortage of 2,500 seats. C)If the price of a ticket is $20 and demand is D₁,then 5,000 people who would like to attend the game will not be able to unless they are able to buy a ticket from a scalper. D)Any price under $40 will result in all the tickets being sold regardless of which of the three demand curves is considered.

Question

Quizplus · Accepted Answer

According to the graph, at a price below $40, there is a point where the supply curve intersects with the demand curve labeled D₂. At this point, all tickets will be sold regardless of demand. Therefore, statement D is true. Statements A, B, and C are all false because they do not accurately reflect the graph.

The Graph Below Shows the Supply and Demand for Tickets