Peter Kay is arguably the United Kingdoms most successful comedian. In 2012, he broke the world record

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Peter Kay is arguably the United Kingdom’s most successful comedian. In 2012, he broke the world record when his tour, Tour That Doesn’t Tour, became the world’s highest selling stand-up comedy tour, selling 1,140,798 tickets in 113 arena dates between February 2010 and November 2011. Peter Kay has sold more than 10 million DVDs and has a U.K.-chart number one to his name. He has become the first comedian to sell 10 million DVDs in the United Kingdom. Jason Manford is another comedian from Northern England. Jason’s live shows are considerably limited compared to Peter’s. In spite of the limited supply, the price of one ticket to Jason’s show is around £30. Tickets for Peter’s tour have been sold at £150. Use one graph to show both the demand and supply for live shows by Jason Manford and the demand and supply for live shows by Peter Kay. Show how it is possible for the price of Peter Kay’s shows to be higher than the price of Jason Manford’s shows, even though the supply of Peter Kay’s shows is larger than the supply of Jason Manford’s shows. 

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Economics

ISBN: 9781292430645

8th Global Edition

Authors: R. Glenn Hubbard, Anthony P. O'Brien

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