Home / Questions / If the long-suffering Pittsburgh Pirates and Kansas City Royals were to meet in the World
If the long-suffering Pittsburgh Pirates and Kansas City Royals were to meet in the World Series and their fans, realizing that another trip to the World Series would not some again for 50 years, were willing to pay three times the face-value price for tickets, economists would suggest that a scalping market would appear and it
A)would make all ticket holders and potential buys worse off.
B)would make all ticket holders and potential buys better off (or at least no worse off).
C)cause the price to fall below the face value.
D)cause the price to fall back to the face value.
32.If the Boston Red Sox were playing the Chicago Cubs in the World Series and fans were willing to pay three times the face-value price for tickets, economists would suggest that a scalping market would appear and it
A)would make all ticket holders and potential buys worse off.
B)would make all ticket holders and potential buys better off (or at least no worse off).
C)cause the price to fall below the face value.
D)cause the price to fall back to the face value.
33.If the New Orleans Saints were playing the Arizona Cardinals in the NFC final to determine who would play in the Super Bowl and their fans were willing to pay three times the face-value price for tickets, economists would suggest that a scalping market would appear and it
A)would make all ticket holders and potential buys worse off.
B)would make all ticket holders and potential buys better off (or at least no worse off).
C)cause the price to fall below the face value.
D)cause the price to fall back to the face value.
34.Since there are long waiting lists for tickets to events that regularly occur (Duke basketball, the August NASCAR race in BristolTennessee, etc.), a profit maximizing promoter would
A)raise ticket prices.
B)lower ticket prices.
C)eliminate seating.
D)eliminate the event altogether.
35.Suppose one of baseball’s most ensuring records -the Dimaggio 56 game hit streak- were on the line. Tickets to the 57th game might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it
A)would make all ticket holders and potential buys worse off.
B)would make all ticket holders and potential buys better off (or at least no worse off).
C)cause the price to fall below the face value.
D)cause the price to fall back to the face value.
36.Suppose one of baseball’s most ensuring records -the Pete Rose career hit total record- were on the line. Tickets to the games leading up to breaking of the record might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it
A)would make all ticket holders and potential buys worse off.
B)would make all ticket holders and potential buys better off (or at least no worse off).
C)cause the price to fall below the face value.
D)cause the price to fall back to the face value.
37.Suppose one of baseball’s most controversial records -the Bonds’ 72 home run season - were on the line. Tickets to the games leading up to breaking of the record might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it
A)would make all ticket holders and potential buys worse off.
B)would make all ticket holders and potential buys better off (or at least no worse off).
C)cause the price to fall below the face value.
D)cause the price to fall back to the face value.
38.Suppose one of baseball’s most controversial records -the Bonds’ career home run record - were on the line. Tickets to the games leading up to breaking of the record might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it
A)would make all ticket holders and potential buys worse off.
B)would make all ticket holders and potential buys better off (or at least no worse off).
C)cause the price to fall below the face value.
D)cause the price to fall back to the face value.
39.Since there are long waiting lists for tickets to events that regularly occur (Duke basketball, the August NASCAR race in Bristol Tennessee, etc.), a profit maximizing promoter might
A)increase seating.
B)lower ticket prices.
C)eliminate seating.
D)eliminate the event altogether.
40.When ticket scalping is legal, economists insist that the market so created ensures that
A)the people who are willing to give up the most money will see the event.
B)the people who care the most in their hearts will see the event.
C)the promoter makes the most money possible.
D)the performers make the most money possible.
Dec 10 2019 View more View Less
Suppose that on the leoward side of the island of Oahu, in the small village of Nanakuli, about 30% of the residents are of Hawaiian ancestry. Let...Suppose that on the l...
Apr 10 2020If a firm is currently profitable, then: its reported sales exceed its costs. its current cash inflows must exceed its current cash outflows. the timing of the cash flows...
Sep 08 2020NcNally Manufacturing Company reported the following year-end information: Beginning work in process inventory $46,000 beginning raw materials inventory 24,000 endin...
May 28 2018You wish to save enough money to put a 20% down payment on a condominium which you expect to cost $200,000 in five years (N). If you can earn 5% (r) on your investments c...
Aug 15 2021One of your colleagues has $2000 available to invest. Assume that all of this money must be placed in one of three investments: a particular money market fund, a stock, o...
Aug 09 2020Three Rivers Dental Associates (TRDA) is a large dental practice in Pittsburgh. The firm's controller is preparing the budget for the next year. The controller projects a...
May 23 2020What role do ethics play in marketing research? Why is it important that marketing researchers be ethical?
Jul 03 2021A drill pipe changes direction in a dog leg, below which the rest of the drill string extends to the bottom of the well bore. In the dog leg, the drill pipe has an outer ...
Jun 25 2020Select a business in your community and observe its internal controls over cash receipts and cash payments. The business could be a bank or a bookstore, a restaurant, a d...
May 02 2021