On Saturday, September 13, the Los Angeles Dodgers and the San Francisco Giants played baseball at AT&T

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On Saturday, September 13, the Los Angeles Dodgers and the San Francisco Giants played baseball at AT&T Park in San Francisco. Both teams were in pursuit of league championships. Tickets to the game were sold out, and many more fans would have attended if additional tickets had been available. On that same day, the Miami Marlins and the Philadelphia Phillies played each other and sold tickets to only 26,163 people in Philadelphia.

The Phillies stadium, Citizens Bank Park, holds 43,651. AT&T Park in San Francisco holds 41,915. Assume for simplicity that tickets to all regular-season games are priced at $40.
a. Draw supply and demand curves for the tickets to each of the two games. (Hint: Supply is fixed. It does not change with price.) Draw one graph for each game.
b. Is there a pricing policy that would have filled the ballpark for the Phillies game?
c. The price system was not allowed to work to ration the San Francisco tickets when they were initially sold to the public. How do you know? How do you suppose the tickets were rationed?

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Principles of Macroeconomics

ISBN: 978-0134078809

12th edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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