Answer Happy

Supply and Demand Illustrate graphically and state what will happen to equilibrium price and quantity in each of the following markets. Assume a competitive market and an upward sloping supply curve. a b. C. d. e f. 9. h. i. Football Tickets: A lockout occurs and shortens the # of games in the season. (Fans are not disgruntled) Griffins Tickets: Red Wings ticket prices fall. (Assume Griffins and Red Wings games are substitutes.) Griffins Tickets: Population in Grand Rapids, MI surges rapidly. Basketball Tickets: A players strike occurs that causes fans to be disgruntled once the season resumes. Food inside a stadium: The cost of renting space in the stadium increases. Single A Baseball: Stadium Management groups offer dollar beer and dollar hot dog specials. Single A Baseball (an inferior good): The income of consumer's increases. Major League Baseball (a normal good): The income of consumer's increases. Texas Rangers Tickets: Globe Live Park, Texas Rangers' new climate-controlled ballpark opens. Tom Brady Jerseys: Brady wins the Superbowl (again).