oo Verizon LTE 948 PM eztomheducationcom C 1000 points Refer

oo Verizon LTE 9:48 PM ezto.mheducation.com C 10.00 points Refer to the \"In the News\" below: cket prices for Mondays cheap- only $47 according to the NCAAs official website But dont expect to nto AT&Ts; stadium in Arlington, Texas for thaltl paltry sum The 79444 eats are sold Scalpers are charging as much as $5,000 for front-row center-cout seats for Mondays Front-row seats in the second tier are going for $866 at on-line resellens nosbleeds $325 nevtable gators team w. lose on Monday-but won\'t be the scalpers the second ter are going Instructions: Enter your response rounded to the nearest whole number. (a) What was the initial price of a ticket to the NCAA finals? sper ticket. (b) At that price there is a shotage References eBook & Resources Worksheet Learning Objective: 03-03 How market prices and Check my work

Solution

Initial price of tickets is the one showing at the online site i.e $47.However the sellers are not willing to sell all tickets at that small price.Hence clearly there is a shortage or excess demand for tickets at this price.