how would an increase in sport players wages shift the supply curve for sporting event tickets and what would be the subsequent effect on equilibirum price/quantity of tickets

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See my earlier post to your question. The answer largely depends on whether players wages are treated as fixed costs or variable costs. The other important consideration is whether you think the number of seats available is fixed or not.

I would argue that, for a professional sporting event, the player's salaries are, effectively, a fixed cost. Further, the, number of seats in the stadium is some fixed number. Ergo, for both reasons, independently or combined, no change in the supply curve for tickets as a result raising player salaries.

Now then, raising salaries might attract better players, which increases the demand for the tickets. But, this is a demand-side response.

Feel free to disagree.

An increase in sport players' wages can have an impact on the supply and demand dynamics of sporting event tickets. Let's break down the steps to understand how this would affect the supply curve and subsequently the equilibrium price and quantity of tickets:

1. Understand the Supply Curve: The supply curve demonstrates the relationship between the price of a good or service and the quantity that suppliers are willing to provide. In this case, the supply curve represents the willingness of event organizers to supply tickets at different prices.

2. Effect of Players' Wages on Supply: When the wages of sport players increase, the costs associated with organizing sporting events also rise. This can include higher player salaries, training facilities, staff, and other expenses. As a result, event organizers may need to cover these increased costs by charging higher prices for tickets.

3. Shift in Supply Curve: The increase in sport players' wages leads to an upward shift of the supply curve. The entire supply curve moves to the left, indicating a decrease in the quantity of tickets supplied at each price level.

4. Subsequent Effect on Equilibrium Price/Quantity: With the shift in the supply curve, the new equilibrium point will be at the intersection of the supply and demand curves. Depending on the magnitude of the shift, the equilibrium price and quantity of tickets will change.

- If the shift in the supply curve is significant and there isn't a corresponding change in demand, the equilibrium price of tickets is likely to increase. This is because the increase in costs leads to higher prices for tickets, reducing the quantity supplied and purchased.
- Conversely, if the shift in the supply curve is relatively small compared to the elasticity of demand, the equilibrium price may not change significantly, but the equilibrium quantity of tickets is likely to decrease as suppliers provide fewer tickets.

Overall, the impact of an increase in sport players' wages on the supply curve for sporting event tickets will result in changes to the equilibrium price and quantity, depending on the extent of the shift and the responsiveness of demand to price changes.