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A baseball team has 45,000 seats in their stadium, which represents the supply of seats for their baseball games. They have estimated the demand from
A baseball team has 45,000 seats in their stadium, which represents the supply of seats for their baseball games. They have estimated the demand from different groups in order to find the total demand for their seats - which is as follows: Price Age 0 to 17 Age 18 - 50 Age 50+ $100 20,000 100,000 30,000 $200 18,000 70,000 25,000 $300 16,000 40,000 20,000 $400 14,000 10,000 15,000 $500 12,000 8,000 10,000 If price is equal to $300, how large is the shortage or surplus? For a shortage, use a negative number For a surplus, use a positive number
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