Answer to Question #102579 in Microeconomics for vaneesha

Question

The 2015 Champions League final (Juventus-Barcelona) was played at the Olympiastadion in Berlin, Germany. Air tickets from Turin (Juventus home city) to Berlin range in price from about $75 to about $350. Air tickets from Vancouver to Berlin range in price from about $1,000 to about $1,500. Tickets to the game cost from about €70 for a category 4 ticket (the “worst” seats) to about €600 for a category 1 ticket (the “best” seats). Would you expect tifosi from Vancouver more likely to buy the category 1 tickets than their relatives from Turin or less likely? Explain why.

Answer 1

We would expect tifosi from Vancouver more likely to buy the category 1 tickets than their relatives from Turin, because if they can spend more for air tickets to get to Berlin, then they are ready to spend more for the football ticket.