Give an example of an event that would shift the demand

Assignment Help Microeconomics
Reference no: EM13323907

Suppose the secondary student ticket market for Badger football tickets is competitive. Ticketholders are the suppliers, and choose to either attend the game themselves or supply the ticket in the market. Non-ticketholders demand tickets. The secondary student ticket market refers to the re-selling of football tickets from the initial owner of the ticket to a new owner.

Given the above information, please answer the following questions:

a) Give an example of an event that would shift the demand curve for secondary tickets to the Badger football game leftward. Explain your reasoning.

b) Give an example of an event that would shift the supply curve for secondary tickets to the Badger football game rightward. Explain your reasoning.

Reference no: EM13323907

Questions Cloud

What is this monopolist’s profit maximizing price and output : Consider a monopolist where the market demand curve for the produce is given by P = 520 – 2Q. This monopolist has marginal costs that can be expressed as MC = 100 + 2Q and total costs that can be expressed as TC = 100Q + Q2 + 50.
Estimate diameter of largest particle that can be removed : A grit chamber is designed for a flow-through velocity of 0.30 m/s, a depth of 0.9 m, and a length of 10.5 m. If inorganic particles have a specific gravity of 2.65,
Develop a gui application that includes a text area : Develop a GUI application that includes a text area, 5 buttons, and a keyboard.
How much time elapses from start to stop : An electric vehicle starts from rest and accelerates at a rate a1 in a straight line until it reaches a speed of v. How much time elapses from start to stop
Give an example of an event that would shift the demand : Give an example of an event that would shift the demand curve for secondary tickets to the Badger football game leftward. Explain your reasoning.
State oil bath need to be heated to first open safety valve : A 1L steel tank is fitted with a safety valve that opens if the internal pressure exceeds 850 torr. It is filled with helium at 23 oC and 0.991 atm and placed in an oil bath.
Determine what is the percent volatile matter in the sample : A suspended solids analysis is run on a sample. The tare mass of the crucible and filter is 55.3520 g. A sample of 260 mL is then filtered and the residue dried to constant mass at 103 degrees C.
Corporate and business strategy : Case Study Thorntons plc: corporate and business strategy
List the hexadecimal code for each instruction : Consider the MARIE program below. a) List the hexadecimal code for each instruction. b) Draw the symbol table. c) What is the value stored in the AC when the program terminates?

Reviews

Write a Review

Microeconomics Questions & Answers

  Define gross domestic product at market prices

A. Define each of the following: 1 Gross Domestic Product at Market Prices. 2 Gross National Product at Market Prices. 3 Gross National Product at Factor Cost. 4 National Income. B. Explain the relationship between Gross National Product at Market ..

  Questions on opportunity cost

Economists make decisions by thinking in terms of alternatives. Why do economists thinks there is no such thing as a free lunch?

  Explain marginal rate of substitution

. Consider a consumer who is always willing to substitute four pounds of a generic store-brand sugar for two pounds of a brand-name sugar. Do these preferences exhibit a diminishing marginal rate of substitution between store-brand and producer-br..

  What can lead to a best case for each individual

In using game theory, both parties have dominant strategies that lead to a best case for each individual. However, these decisions result in a worst case for the combination of the two. Discuss ways that each party can achieve a better solution.

  Increasing the price of cell phones

A limited liability company is the best form of business for owners who or in a specific industry, two dominant firms work together to set prices.What we call this

  Are unions good or bad for the econom

Are unions good or bad for the economy How do unions at GM and Ford affect employment levels and wages How do unions affect other industries in terms of employment and wage levels

  What is the benefit to a multiscreen theater

What are the benefits of the staggered movie times allowed by multiple screens? What is the benefit to a multiscreen theater of locating at a shopping mall?

  Find the current price is higher than equilibrium price

Owners of Sizzling Foods can earn a 14% rate of return on that land it they leased it others as a parking lot and while the last nurse hired treated 1,000 extra patients in a year. If doctors make $40,000 a year, what do nurses make?

  Explaining business strategy

Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult

  Explain fluctuations in the level of economic activity

Economic fluctuations (or business cycles) are fluctuations in the level of economic activity, relative to a long-term growth trend. Comparing and contrasting the economic fluctuation the United States has experiences from 1990 to current date.

  Changes in price of a key commodity

How would government react to sudden, large changes in the price of a key commodity, such as gasoline, electricity, or prices on stocks on the New York Stock Exchange?

  Kinds of intervention of the fed in foreign exchange market

The money supply of a country equals the sum of monetary base times the money multiplier. Monetary base equals the sum of domestic reserves and foreign reserves. Domestic reserves include the domestic government securities. The foreign reserves in..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd