3. In the market for Philadelphia Phillies baseball tickets, a determinant of supply would be ______ while demand determinants would include _____________. The price of the tickets; household wealth in the Philadelphia area.Input costs and consumer tastes; the level of competition in the ticket-selling industry.The price of substitutes for these tickets; the price of tickets.The price of parking at Phillies baseball games; the number of sellers of competing sporting events in the area.A and C only

According to economic theory, two items are considered substitutes if they can both satisfy the same…

Answered: In the market for Philadelphia Phillies…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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3. In the market for Philadelphia Phillies baseball tickets, a determinant of supply would be ______ while demand determinants would include _____________.

The price of the tickets; household wealth in the Philadelphia area.
Input costs and consumer tastes; the level of competition in the ticket-selling industry.
The price of substitutes for these tickets; the price of tickets.
The price of parking at Phillies baseball games; the number of sellers of competing sporting events in the area.
A and C only

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