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3. The New York Yankees and the Boston Red Sox are in the American League Championship...

3. The New York Yankees and the Boston Red Sox are in the American League Championship Series. Do you expect the demand for tickets to these games in NY and Boston to be more or less price elastic than the demand for tickets in the rest of the country? Explain in words and graphically.

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Answer #1

The demands would be inelastic.Since,the two teams are in the championship,the people of the respective cities would be very much willing to watch the game to support their teams.The game is happening in their cities so they would be willing to pay even higher prices for the tickets.Watching the game is kind of necessity for the people of Boston and New York.

The people of the other cities would not be willing to watch the match a lot because their teams are not in the championship.They would only watch if the price of the ticket is very low.

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