Question
The market for tickets to symphony can be described by the following demand and supply curve: Q D = 20 000- 90p, Q s =10
The market for tickets to symphony can be described by the following demand and supply curve: QD= 20 000- 90p, Qs=10 000+110P
a)What are the equilibrium price and quantity in the ticket market? (2 marks)
Lovers of classical music persuade the government to impose a price ceiling of $40 per ticket. How many tickets are now sold in the market? Does this policy get more or fewer people to attend classical music concerts?
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
