Question

The championship game will be held next weekend in your college's 40,000-seat stadium. The supply of...

The championship game will be held next weekend in your college's 40,000-seat stadium. The supply of tickets to the game:

Select one:

a. will increase because the price charged will be higher.

b. is elastic.

c. is perfectly inelastic.

d. depends on which teams make it to the championship game.

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Answer #1

The championship game will be held weekend in your college's 40000 seat stadium. The supply of tickets to the game:

Correct answer will be C. Perfectly inelastic.

It will be perfectly inelastic because any change in the price will not change the number of seats. So the supply of number of seats is constant to any change in the price. So it will be perfectly inelastic. Perfectly inelastic is the condition where a change in the price do not changes the quantity supplied. The elasticity in this case will be zero.

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