The market for baseball tickets at your college stadium, which seats 2,000, is the following:

Price Quantity Demanded Quantity supplied

$2 4,000 2,000

$4 2,000 2,000

$6 1,000 2,000

$8 500 2,000

a.What is the equilibrium price?

b. What is unusual about the supply curve?

c.At what prices would a shortage occur?

d.At what prices would a surplus occur?

e. Suppose that the addition of new students (all big baseball fans) next year will add 1 ,000 to the quantity demanded at each price. What will this increase do to next year's demand curve? What is the new equilibrium price?