ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A popular musical act announces a concert at a 10, 000 seat venue. Prices for tickets skyrocket so the venue announces that there will be 500 standing room only tickets offered. What concept does this demonstrate?
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elastic supply
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inelastic supply
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change in supply
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change in quantity supplied
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Explanation:
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