Chapter 19: Revolution in Politics Main Ideas
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Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedules are as follows:
Price $48121620 Quantity Demanded 10,000 tickets 8,0006,0004,0002,000 Quantity Supplied 8,000 tickets 8,0008,0008,0008,000
What are the equilibrium price and quantity of tickets?