Problem
Ticket prices to watch football team matches are determined by market forces. Here is the demand and supply:
|
Price
|
Quantity Demand
|
Quantity Supply
|
|
10
|
50.000
|
30.000
|
|
20
|
40.000
|
30.000
|
|
30
|
30.000
|
30.000
|
|
40
|
20.000
|
30.000
|
|
50
|
10.000
|
30.000
|
Draw the demand and supply curves. What's so unusual about this supply curve? Is the curve correct? What is the balance price and number of tickets?