One In the News article in the text titled "The Real March Madness: Ticket Prices " described how professional scalpers use the Internet to sell hard-to-get tickets to concerts and sporting events. Apparently the initial price of the tickets being scalped was too

A. Low for equilibrium, resulting in a surplus of tickets.
B. High for equilibrium, resulting in a shortage of tickets.
C. High for equilibrium, resulting in a surplus of tickets.
D. Low for equilibrium, resulting in a shortage of tickets.


Answer: D

Economics

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Economics

The aggregate demand curve shows the

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Economics

Suppose Seth and Nathan are college students with the same annual income, yet Seth pays half of the annual income tax that Nathan does

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Economics

If the price elasticity of demand for Cheer detergent is 3.0, then a

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Economics