10 If the equilibrium price for tickets to a a Shakira concert is $130 each and she sells them for $90, a. Does she create a market surplus or shortage? Surplus Shortage Neither a shortage nor surplus b. Suppose scalpers buy 10,000 tickets and resell them for $130 each. How much profit do the scalpers earn?
10 If the equilibrium price for tickets to a a Shakira concert is $130 each and she sells them for $90, a. Does she create a market surplus or shortage? Surplus Shortage Neither a shortage nor surplus b. Suppose scalpers buy 10,000 tickets and resell them for $130 each. How much profit do the scalpers earn?
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 35P: The equation for a supply curve is 4P=Q. What is the elasticity of supply as price rises from 3 to...
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![10
If the equilibrium price for tickets to a a Shakira concert is $130 each and she sells them for $90,
a. Does she create a market surplus or shortage?
Surplus
Shortage
Neither a shortage nor surplus
b. Suppose scalpers buy 10,000 tickets and resell them for $130 each. How much profit do the scalpers earn?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faa452579-39b1-4d40-9301-36b64e7204f2%2F21111ce5-899c-4224-a3b6-24bf4b3c8872%2Fxfoc2y9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:10
If the equilibrium price for tickets to a a Shakira concert is $130 each and she sells them for $90,
a. Does she create a market surplus or shortage?
Surplus
Shortage
Neither a shortage nor surplus
b. Suppose scalpers buy 10,000 tickets and resell them for $130 each. How much profit do the scalpers earn?
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