The number of seats available in a stadium is fixed at 80,000. The equilibrium price for a ticket to a football game at the stadium is $30. The equilibrium price for a ticket to a soccer match at the stadium is $10. Which of the following is true?
A. The demand for each football game must be more than the demand for each soccer match.
B. The supply of soccer matches must be less elastic than the supply of football games.
C. Football games must be more expensive to produce than a soccer match.
D. The demand for each soccer game must be greater than the demand for each football game.
Answer: A
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Which of the following is true of a natural monopoly?
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In the view of the classical school, unemployment:
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Workers in a nearby pizza restaurant may indirectly enjoy income increases from a nearby construction work site.
Answer the following statement true (T) or false (F)