ECO 167 Winter 2018 Homework Chapter 3 22 of 25 25 complete

ECO 167- Winter 2018 Homework: Chapter 3 22 of 25 (25 complete) HW Score: Score: 2 of 4 pts Text Problem 5.2 On Saturday, September 13, the Los Angeles Dodgers and the San Francisco Giants played baseball at AT&T; Park in San Francisco. Both teams were in pursuit of league cha would have attended if additional tickets had been available. On that same day he Miami Marlins and the Philadelphia Phillies played each other and sold tickets40 to only 26,163 people in Philadelphia. San Francisco Tickets to the game were sold out, and many more fans The Phillies stadium, Citizens Bank Park, holds 43,651. AT&T; Park in San Francisco holds 41,915. Assume for simplicity that tickets to all regular-season games are priced at $40 Is there a pricing policy that would have filled the ballpark for the Philies game? The Philadelphia Phillies could maintain their current pricing policy and instead renovate the stadium to increase game attendance. The Philadelphia Phillies could raise ticket prices to imply a shortage of baseball tickets in the market, thus increasing attendance DB the Philadelphia Phil ies could lower ticket prices to increase attendance to the Philadelphia Philies, no pricing policy is likely to be successful. Philadelphia The price system was not allowed to work to ration the San Francisco tickets when

Solution

Answer :- Option C). Since the quantity supplied exceeds the quantity demanded, the philadelphia phillies could lower ticket prices to increase attendance.

Explanation :- The statement mentioned in option (C) to the given question will increase the attendance of baseball fans at ball park to see the Philles game.