The number of seats available in an arena is fixed at 20,000. The equilibrium price for a ticket to a basketball game at the arena is $80. The equilibrium price for a ticket to a hockey game at the arena is $95. Which of the following is true?
A. The demand for each hockey game must be higher than the demand for each basketball game.
B. The supply of hockey games must be less elastic than the supply of basketball games.
C. The demand for hockey games must be more elastic than the demand for basketball games.
D. Basketball games must be more expensive to produce than hockey games.
Answer: A
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