2. Predicting Consequences Use the table below to predict what would happen if airlines and baseball stadiums priced all seats the same instead of using variable pricing. What would happen to the num- ber of tickets sold? What would happen to the total revenue from ticket sales? Assume stadiums are using variable pricing and aren't completely sold out or completely empty. What would change if seats were sold at the lowest prices? Highest prices? Variable prices? More seats sold Fewer seats sold More revenue Less revenue Lowest prices Highest prices Variable prices
2. Predicting Consequences Use the table below to predict what would happen if airlines and baseball stadiums priced all seats the same instead of using variable pricing. What would happen to the num- ber of tickets sold? What would happen to the total revenue from ticket sales? Assume stadiums are using variable pricing and aren't completely sold out or completely empty. What would change if seats were sold at the lowest prices? Highest prices? Variable prices? More seats sold Fewer seats sold More revenue Less revenue Lowest prices Highest prices Variable prices
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 6SQP
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