Last week there was a concert in SAP center where country singers performed. What would be theequilibrium price of admission for country music venues and the quantity of tickets in thesevenues, if [1] more people started listening to country music, and at the same time [2] morecountry music bars have started operating, other things remaining constant?The admission price would rise but the impact on the quantity of tickets is ambiguous.888The quantity of tickets would rise but the impact on admission price is ambiguous.Both the admission price as well as the quantity of tickets would rise.Both the admission price and the quantity of tickets would drop. How would [1] a decrease in the price of flour and [2] an improvement in technology of pizzamaking would affect the market price and quantity of pizza, other things remaining constant?The price of pizza would drop and the equilibrium quantity would rise.The price of pizza would drop but the impact on the equilibrium quantity is uncertain.The equilibrium quantity of pizza would rise but the impact on price is uncertain.Both the price as well as the equilibrium quantity of pizza would rise.

In the market for the country music we have the demand and the supply curves. And equilibrium point…

Last week there was a concert in SAP center where country singers performed. What would be the equilibrium price of admission for country music venues and the quantity of tickets in these venues, if [1] more people started listening to country music, and at the same time [2] more country music bars have started operating, other things remaining constant? O The admission price would rise but the impact on the quantity of tickets is ambiguous. O The quantity of tickets would rise but the impact on admission price is ambiguous. O Both the admission price as well as the quantity of tickets would rise. O Both the admission price and the quantity of tickets would drop.

Last week there was a concert in SAP center where country singers performed. What would be the equilibrium price of admission for country music venues and the quantity of tickets in these venues, if [1] more people started listening to country music, and at the same time [2] more country music bars have started operating, other things remaining constant? O The admission price would rise but the impact on the quantity of tickets is ambiguous. O The quantity of tickets would rise but the impact on admission price is ambiguous. O Both the admission price as well as the quantity of tickets would rise. O Both the admission price and the quantity of tickets would drop.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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