Economics

1. 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 number 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?

Table is set up like this:
More seats sold vs lowest prices
More seats sold vs highest prices
More seats sold vs variable prices
Less seats sold vs lowest prices
Less seats sold vs highest prices
Less seats sold vs variable prices
More revenue vs lowest prices
More revenue vs highest prices
More revenue vs variable prices
Less revenue vs lowest prices
Less revenue vs highest prices
Less revenue vs variable prices

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  1. Since we can't see the table, we can't interpret what it shows. You can see it. What does it demonstrate?

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  2. On top there is 4 boxes and the 1st box is |More seats sold| |2nd. Fewer seats sold| |3rd. More revenue| |4th.Less revenue| there is 3 boxes in each of those words like column's and then on the left side there is 3 boxes and the 1st box says |Lowest Prices| |2nd. Highest Prices| |3rd. Variable Prices|.

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  3. 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 number of ticket 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?

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