Group 4 Quiz: Changes in Supply, Demand, and Equilibrium Flashcards | StudBud

Home Library Explore SAT

Home Library Explore SAT

Group 4 Quiz: Changes in Supply, Demand, and Equilibrium Flashcards | StudBud

Group 4 Quiz: Changes in Supply, Demand, and Equilibrium

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Question

There's only 500 concert tickets, but 2500 people wish to attend. How does this affect equilibrium price?

Answer

Equilibrium price will increase

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