The Super Bowl is often played in stadiums that seat over 80,000 people. How can tickets for the Super Bowl sell for thousands o
f dollars when there are so many tickets?
2 answers:
In capitalism, the price of goods is based on supply and demand. The attached chart shows how each affect the price of goods.
In the situation described, the supply of the tickets are high. However, so is the price. This tells us that the demand for the good has to be extremely high as well, or else the producers wouldn't be able to sell this product at such a high price. Hope this helps!
In the situation described, the supply of the tickets are high. However, so is the price. This tells us that the demand for the good has to be extremely high as well, or else the producers wouldn't be able to sell this product at such a high price. Hope this helps!
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