(Answered) Suppose that the price of basketball tickets at your

Economics

Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedules are as follows:

Price($) Quantity Demanded Quantity Supplied

4 10,000 8,000

8 8,000 8,000

12 6,000 8,000

16 4,000 8,000

20 2,000 8,000

>20 0 8,000

Draw the demand and supply curves. What is unusual about this supply curve? Why might this be true? What are the equilibrium price and quantity of tickets?

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Microeconomics, Economics

Category:- Microeconomics
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