A university’s football stadium is never more than half-full
during football games. This indicates
a)the ticket price is above the equilibrium price.
b)the ticket price is below the equilibrium price.
c)the ticket price is at the equilibrium price.
d)nothing about the equilibrium price.
e)ticket scalping will most likely occur.
- It is given that, the university’s football stadium is never
more than half full during football games.
- This shows that, the price of the ticket is above the
- We know that when the price of any good increases above the
equilibrium price level, then the quantity demanded falls while the
quantity supplied rises.
- Similarly, when the price of tickets rise above the equilibrium
price level, the quantity of tickets demanded will fall and hence
the number of people in the stadium never rises more than half the