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Econ help ? All of the goods below are either sold in perfectly competitive markets or in secondary markets that are also competitive. Suppose that
Econ help ?
All of the goods below are either sold in perfectly competitive markets or in secondary markets that are also competitive. Suppose that the market (or the secondary market) starts in equilibrium. For each of the following scenarios, sort the items into the box that correctly describes the pressure on price immediately after the event. Upward pressure on price Sub-zero weather in New York causes people to become disinterested in watching the Super Bowl live. What happens to ticket price in the scalping market? Downward pressure on price The Nile River floods this year add an exceptional amount of silt to the soil, resulting in increased crops of cotton. An impending nuclear holocaust causes people An outbreak of mad cow disease to stock up on twonkies, a popular snack cake provided by many companies. causes Americans to abstain from eating beef.
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