Which of the following is most likely to increase demand for NFL games? A. A successful advertising campaign about the NFL B.A law passes that will increase taxes on consumers in two years OC. A decrease in the price of college football tickets D. An increase in the price of chicken wings
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- The figure shows the demand curve for a PlayStation game. The price elasticity of demand when the price increases from $30 to $50 is ________. 5/3 1.67 1 3/5Some NHL hockey teams have struggled with attendance (even before the Coronavirus outbreak). It has been suggested that if these NHL hockey teams would lower ticket prices, they could increase revenue from ticket sales. This suggestion is based on which of the following assumptions? a. there are no good substitutes for NHL hockey b. demand for NHL hockey is price elastic c. demand for NHL hockey is price inelastic d. demand for NHL hockey is unitary elastic Question: Pick two of the incorrect answers from the above options and explain, in words, why those answers are incorrect.Describe how each of the following will affect the demand for television sets a) a rise in incomes ( assuming televisions are considered to be normal good.) b) A higher expected future prices for television sets. c) Olympic is starting in next month, and the nation is crazy to watch Olympics.
- nee Question 1. You are the pricing manager for a professional football team. Your stadium can seat 70,000 spectators. The marginal cost of selling another ticket (and thereby seating another spectator) is $0. Therefore, you are primarily interested in maximizing total revenue. For each of the following scenarios give the revenue-maximizing price. a. The demand for tickets at each game is 120,000 − 5,000p. b. The demand for tickets at each game is 120,000 − 4,000p. c. The demand for tickets at each game is 200,000 − 5,000p. d. The demand for tickets at each game is 180,000 − 4,000p.For each question start with a supply and demand graph of the market for tennis rackets. What happens to supply or demand in each scenario? Explain why and show on graph labeling the new equilibrium point.The demand curve slopes down because of the income effect and the substitution effect, does that logic work for…. A.) The demand of sports attendance B.) Television viewership of sports C.) The demand for sports merch
- If the demand curve for NFL tickets is P = 250 - 0.5Q Find the point of elasticity of demand at P = 235 and Q = 30 Is the demand elastic or inelastic at this point? Why?Some NHL hockey teams have struggled with attendance (even before the Coronavirus outbreak). It has been suggested that if these NHL hockey teams would lower ticket prices, they could increase revenue from ticket sales. This suggestion is based on which of the following assumptions? a. there are no good substitutes for NHL hockey b. demand for NHL hockey is price elastic c. demand for NHL hockey is price inelastic d. demand for NHL hockey is unitary elasticFor each question,start with a supply and demand graph of the market for tennis rackets. What happens to supply or demand in each scenario? Explain why and show on graph labeling the new equilibrium point.
- Sanford stadium has 90,000 seats. What is the shape of the supply curve for tickets to football games at that stadium? ExplainQuestion 20. 20 Refer to the information and assume the stadium capacity is 5,000. The supply of seats for the game Price per Ticket Quantity Demanded $13 1,000 11 2,000 9 3,000 7 4,000 5 5,000 3 6,000 varies inversely with ticket prices. varies directly with ticket prices. is perfectly inelastic. is perfectly elastic.Restrictions on payments to college athletes: a. Increase the supply of college coaches, causing coaches’ salaries to fall b. Increase the demand for college coaches, causing coaches’ salaries to rise c. Have no impact on the demand for college coaches d. Decrease the demand for college coaches, causing coaches’ salaries to fall