Label the axes-curves and the equilibrium intersections

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The Super Bowl in 2014 was held outdoors in New Jersey in the winter. Assume the market for tickets to the event was in equilibrium one week prior to the Super Bowl. A weather report forecasted cold weather for the event, and the price for outdoor seats fell. On one website the prices fell from $2,233 to $1,395 per ticket. The price for club seats that included access to a heated area did not change during the week before the event. Show the effect of the weather report in a graph. Explain why this is so. Be sure to the label the axes, the curves, and the equilibrium intersections with the axes

Reference no: EM13997411

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