Question
In the off-season, the New York Mets sign a superstar player and then raises ticket prices for the upcoming season. What is the most legitimate
In the off-season, the New York Mets sign a superstar player and then raises ticket prices for the upcoming season. What is the most legitimate economic reasoning for the rise in ticket prices?
Group of answer choices
- The marginal cost of tickets sold has increased and so increasing ticket prices is necessary.
- The salary costs of the soccer team have risen so ticket prices must increase as a result.
- For tickets, the demand curve has shifted outward to the right (i.e., become greater at a given price).
- The Mets operate in a market of perfect competition where the organization must price tickets equal to marginal revenue (MR), and MR per ticket has now increased with the signing of the new superstar player.
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