Answer to Question #45352 in Microeconomics for Jason
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?