When speeding tickets were $100, there were usually 500 speeders on the roads each month in a given city; when ticket prices were raised to $250, there were usually 215 speeders on the roads in the city each month. Can you find any economics in this observation?

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A: It can be said that it is not a perfect competition situation.

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Q: In general,are they any possibilities in violating law of demand?

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Q: . Why are shortages or surpluses more likely with preset prices, such as those on tickets, than…

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Q: Why can't the laws of supply and demand be applied in all commodities and services?

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Q: What is a price? and discuss the importance of pricing in today’s fast-changing environment.

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