Suppose demand for comedy show tickets is given by P = 50 - Q and the supply
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Question:
Suppose demand for comedy show tickets is given by P = 50 - Q and the supply for comedy show tickets is given by P =10 + 4Q. Suppose a tax of $38 is levied. What would be the outcome of this ceiling price?
A) 8 ticket shortage
B) 5 ticket surplus
C) 8 ticket surplus
D) 5 ticket shortage
Related Book For
Managerial economics
ISBN: 978-1118041581
7th edition
Authors: william f. samuelson stephen g. marks
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