Answer to Question #45352 in Microeconomics for Jason

Question #45352
The prices of State of Origin tickets have increased substantially in the last two years. The QRL boss Peter Betros said "There is a supply-and-demand factor when it comes to experiencing these games live -- that is, the demand far exceeds the supply, particularly up here in Queensland"(1) . However, an online article published by ‘djcooper’ on The Roar says “In no way am I suggesting that a ticket pricing increase was avoidable, but I strongly disagree with the ARLC’s decision to jack prices up so drastically over the space of a couple of years in order to put more money in their pockets,” and “Queensland supporters have been let down with this massive hike, effectively punishing fans of this great team for the success and dominance demonstrated over the past eight years.”(2) Using appropriate economic concepts critically discuss and evaluate the arguments for and against the increase in ticket prices in terms of economic efficiency and equity.
My question is how to draw the graphs
Would it link to utility?
Expert's answer
The answer to the question is available in the PDF file

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be the first!

Leave a comment

Ask Your question

New on Blog