Questions: The table below shows the demand and supply for the World Cup Final game in the Lusail Stadium in Qatar. Price () per ticket Quantity Demanded 1 Quantity Supplied Quantity Demanded 2 ------------ 150 149,000 109,000 200 139,000 109,000 250 129,000 109,000 300 119,000 109,000 350 109,000 109,000 400 99,000 109,000 450 89,000 109,000 a. If the organizers wish to ensure a sell out for the final game, the highest price per ticket they can charge is . b. If the organizers decided to charge a price of 200 per ticket, there would be a (Click to select) v of . c. Suppose that the demand for each game in the qualifying rounds is 20,000 less than for the final game. In the table above, show the demand for a qualifying round game in the column titled Quantity Demanded 2. d. If the organizers wish to ensure a sell out for each qualifying round game, the highest price per ticket they can charge is .

The table below shows the demand and supply for the World Cup Final game in the Lusail Stadium in Qatar. Price () per ticket Quantity Demanded 1 Quantity Supplied Quantity Demanded 2 ------------ 150 149,000 109,000 200 139,000 109,000 250 129,000 109,000 300 119,000 109,000 350 109,000 109,000 400 99,000 109,000 450 89,000 109,000 a. If the organizers wish to ensure a sell out for the final game, the highest price per ticket they can charge is . b. If the organizers decided to charge a price of 200 per ticket, there would be a (Click to select) v of . c. Suppose that the demand for each game in the qualifying rounds is 20,000 less than for the final game. In the table above, show the demand for a qualifying round game in the column titled Quantity Demanded 2. d. If the organizers wish to ensure a sell out for each qualifying round game, the highest price per ticket they can charge is .
Transcript text: The table below shows the demand and supply for the World Cup Final game in the Lusail Stadium in Qatar. \begin{tabular}{|c|c|c|c|c|} \hline Price (\$) per ticket & Quantity Demanded 1 & Quantity Supplied & \multicolumn{2}{|c|}{ Quantity Demanded 2 } \\ \hline 150 & 149,000 & 109,000 & & \\ \hline 200 & 139,000 & 109,000 & & \\ \hline 250 & 129,000 & 109,000 & & \\ \hline 300 & 119,000 & 109,000 & & \\ \hline 350 & 109,000 & 109,000 & & \\ \hline 400 & 99,000 & 109,000 & & \\ \hline 450 & 89,000 & 109,000 & & \\ \hline \end{tabular} a. If the organizers wish to ensure a sell out for the final game, the highest price per ticket they can charge is $\$$ $\square$ . b. If the organizers decided to charge a price of $\$ 200$ per ticket, there would be a $\square$ (Click to select) $v$ of $\square$ . c. Suppose that the demand for each game in the qualifying rounds is 20,000 less than for the final game. In the table above, show the demand for a qualifying round game in the column titled Quantity Demanded 2. d. If the organizers wish to ensure a sell out for each qualifying round game, the highest price per ticket they can charge is $\$$ $\square$
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Solution

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Certainly! Let's address the questions one by one.

a. If the organizers wish to ensure a sell-out for the final game, the highest price per ticket they can charge is \$350.

  • At \$350, the quantity demanded (109,000) equals the quantity supplied (109,000), ensuring a sell-out.

b. If the organizers decided to charge a price of \$200 per ticket, there would be a surplus of 30,000.

  • At \$200, the quantity demanded is 139,000, and the quantity supplied is 109,000. Therefore, there is a surplus of 30,000 tickets (139,000 - 109,000).

c. Suppose that the demand for each game in the qualifying rounds is 20,000 less than for the final game. In the table above, show the demand for a qualifying round game in the column titled Quantity Demanded 2.

  • At \$150: 129,000 (149,000 - 20,000)
  • At \$200: 119,000 (139,000 - 20,000)
  • At \$250: 109,000 (129,000 - 20,000)
  • At \$300: 99,000 (119,000 - 20,000)
  • At \$350: 89,000 (109,000 - 20,000)
  • At \$400: 79,000 (99,000 - 20,000)
  • At \$450: 69,000 (89,000 - 20,000)

d. If the organizers wish to ensure a sell-out for each qualifying round game, the highest price per ticket they can charge is \$250.

  • At \$250, the quantity demanded for a qualifying round game is 109,000, which matches the quantity supplied, ensuring a sell-out.
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