Part II. Applied Economic Analysis On Thursday, September 30th, the Los Angeles Angels and the Texas Rangers played baseball at Globe Life Field, Rangers Ballpark in Arlington, Texas. Both teams were in pursuit of league championships. Tickets to the game were sold out, and many more fans would have attended if additional tickets had been available. On that same day, suppose the Kansas City Royals and the Cleveland Indians played each other and sold tickets to only 18,099 people in Cleveland. The Indians stadium, Progressive Field, holds 43,545. Rangers Ballpark in Arlington holds 49,170. Assume for simplicity that tickets to all regular-season games are priced at $45. - Draw supply and demand curves for the tickets to each of the two games. (Hint: Supply is xed. It does not change with price.) Draw one graph for each game. Cleveland Game Texas Gume

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Part II. Applied Economic Analysis
On Thursday, September 30th, the Los Angeles Angels and the Texas Rangers played baseball at
Globe Life Field, Rangers Ballpark in Arlington, Texas. Both teams were in pursuit of league
championships. Tickets to the game were sold out, and many more fans would have attended if
additional tickets had been available. On that same day, suppose the Kansas City Royals and the
Cleveland Indians played each other and sold tickets to only 18,099 people in Cleveland. The
Indians stadium, Progressive Field, holds 43,545. Rangers Ballpark in Arlington holds 49,170.
Assume for simplicity that tickets to all regular-season games are priced at $45.
a. Draw supply and demand curves for the tickets to each of the two games. (Hint: Supply is
fixed. It does not change with price.) Draw one graph for each game.
Cleveland Game
Texas Gume
Transcribed Image Text:Part II. Applied Economic Analysis On Thursday, September 30th, the Los Angeles Angels and the Texas Rangers played baseball at Globe Life Field, Rangers Ballpark in Arlington, Texas. Both teams were in pursuit of league championships. Tickets to the game were sold out, and many more fans would have attended if additional tickets had been available. On that same day, suppose the Kansas City Royals and the Cleveland Indians played each other and sold tickets to only 18,099 people in Cleveland. The Indians stadium, Progressive Field, holds 43,545. Rangers Ballpark in Arlington holds 49,170. Assume for simplicity that tickets to all regular-season games are priced at $45. a. Draw supply and demand curves for the tickets to each of the two games. (Hint: Supply is fixed. It does not change with price.) Draw one graph for each game. Cleveland Game Texas Gume
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