1-Use the table below to answer the questions that follow:

a.If this table reflects the supply of and demand for tickets to a particular World Cup soccer game, what is the stadium capacity?

b.If the present ticket price is $45, would we expect to see a secondary market for tickets? Why or why not? Would the price of a ticket in the secondary market be higher than, the same as, or lower than the price in the primary (original) market?

c.Suppose for some other World Cup game the quantities of tickets demanded are 20,000 lower at each ticket price than shown in the table. If the ticket price remains $45, would the event be a sellout?

Quantity Demanded, Quantity Supplied, Thousands Price Thousands 80 $25 60 75 35 60 70 45 60 65 55 60 60 65 60 55 75 60 50 85 60