Answer to Question #147482 in Macroeconomics for Alexis Barnhart

Question

suppose tickets to a basketball game with broad appeal are inexpensive but you can
only obtain them by standing in line for many hours.the tickets cannot be transferred from one person to another. who would be more likely to buy tickets to this game; college students or leaders of major corporations?

Answer 1

Demand for a good or a service depends on the size of population. When the population is large,the demand is greater. According to this scenario, college students will buy tickets to the game because of their larger population. Another reason is when the tickets are inexpensive, the demand for it will be high. More college students will buy the tickets than the leaders of major corporation.