Explain how do you suppose the tickets were rationed

Assignment Help Business Economics

Reference no: EM1345938

On Sunday, August 19th, the Detroit Tigers and the New York Yankees played baseball at Yankee stadium. Both teams are in a pursuit of league championships. Tickets to the game were sold out, and many more fans would have attended if additional tickets had been available. On the same day, the Cleveland Indians and the Tampa Bay Devil Rays played each other and sold tickets to 22,500 people in Tampa.
The Devil Ray stadium, Tropicana Field, holds 43,772. Yankee stadium holds 57,478. Assume for simplicity that all regular season games are priced at $40.

a. Sketch supply and demand curves for the tickets to each of the two games. (Hint: Supply is fixed; it does not change with price.) Draw one graph for each game.

b. Is there a pricing policy that would have filled the ballpark for the Tampa game?

c. The price system was not allowed to ration the New York tickets when they were initially sold to the public. How do you know? Explain how do you suppose the tickets were rationed?

Reference no: EM1345938

Questions Cloud

Taxation on investments : Investor purchase 100 shares in a mutual fund on January 1 2009 for $50 each the fund receive dividends $2 and $3 per share during the 2009 and 2010.

Explain what would the induced emf : In a certain time period a coil of wire is rotated from one orientation to another regarding a uniform 0.38-T magnetic field. The emf induced in the coil is 3.5 V. Other things being equal, what will the induced emf be if the field had a magnitude..

Illustrate what metrics would you propose to help in making : Illustrate what metrics would you propose to help in making the determination. Elucidate what historical data might be useful.

Definition and implication of portfolio theory : Give a brief explanation and implication of portfolio theory, and then argue both sides of portfolio theory, both limits and benefits.

Explain how do you suppose the tickets were rationed : Explain how do you suppose the tickets were rationed. Sketch supply and demand curves for the tickets to each of the two games.

Explaining bus collision avoidance protocol : Some network designers used alternative bus collision avoidance protocol known as the token bus protocol.

Explain why a relatively high value for the former : HPM 522, 1. Consider variables: Pr_Prob and Pr SIDE. Explain why a relatively high value for the former and a relatively low value for the latter are the input values for the BEST case.

Find the share price : A trader purchase 200 shares of a stock on margin. The price of the stock is 20 dollar. The initial margin is 60 percent and the maintenance margin is 30%.

Define why covalent bonds are formed : A hydraulic lift consists of two pistons that connect to each other by an incompressible fluid. If one piston has an area of 0.49 m^2 and the other an area of 6.2m^2, how big a mass can be raised by a force of 220N exerted on the smaller piston.

User Account

All Pages