Recall the Application about setting the price of tickets for Major League Baseball games to answer the following question(s).According to the Application, what is the reason that MLB teams are setting the price of their tickets where the marginal revenue was negative?
A. They can get additional revenue from concessions.
B. MLB owners only care about popularity.
C. TV revenues are way larger than ticket revenues.
D. The pricing is set by the Federal Trade Commission.
Answer: A
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Hubert's Copy Services is in perfect competition. Hubert currently charges 10 cents per page, which is the going market price. He thinks that he can increase his profit by raising the price. Is it possible? Why or why not?
What will be an ideal response?
Which of the following is an example of a normative statement? a. Higher unemployment rates are common among young people
b. Young people should learn how to prepare their own taxes. c. Auto insurance rates are generally lower for younger d. Persons under the age of 30 watch more movies than those over the age of 30.
According to the above figure, a shortage is shown between which two points?
A. A and E B. C and B C. E and F D. A and B
The problem of excess pollution mainly occurs because of
A) asymmetric information. B) a positive externality. C) a negative externality. D) a monopoly.