When the price per ticket is P*, there are empty seats at a university’s basketball arena. From this, we can conclude that
A. P* is greater than the equilibrium price.
B. P* is less than the equilibrium price.
C. P* is the equilibrium price.
D. it’s not possible to determine anything about the equilibrium price with this information.
Answer: B
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Answer the following statement true (T) or false (F)
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What will be an ideal response?
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