SSC
GENERAL ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Organizers of many high-interest sporting events such as the Super Bowl and the World Series usually set ticket prices lower than the equilibrium price, citing fairness to the public as their reason. What names do economists give to the resulting set price and disequilibrium situation?
|
|
price ceiling; surplus
|
|
|
price ceiling; shortage
|
|
|
price floor; shortage
|
|
|
price floor; surplus
|
Explanation:
Detailed explanation-1: -Why does an economist create a market demand curve? To predict how people will change their buying habits when prices change.
There is 1 question to complete.