Is there a pricing policy that would have filled the ballpark for the Phillies game?
A. The Philadelphia Phillies could raise ticket prices to imply a shortage of baseball tickets in the market, thus increasing attendance.
B. Since the quantity supplied exceeds the quantity demanded, the Philadelphia Phillies could lower ticket prices to increase attendance.
C. Since consumers of baseball tickets must prefer the San Francisco Giants to the Philadelphia Phillies, no pricing policy is likely to be successful.
D. The Philadelphia Phillies could maintain their current pricing policy and instead renovate the stadium to increase game attendance.

Question

03-01-2020
Business

contestada

Is there a pricing policy that would have filled the ballpark for the Phillies game?
A. The Philadelphia Phillies could raise ticket prices to imply a shortage of baseball tickets in the market, thus increasing attendance.
B. Since the quantity supplied exceeds the quantity demanded, the Philadelphia Phillies could lower ticket prices to increase attendance.
C. Since consumers of baseball tickets must prefer the San Francisco Giants to the Philadelphia Phillies, no pricing policy is likely to be successful.
D. The Philadelphia Phillies could maintain their current pricing policy and instead renovate the stadium to increase game attendance.

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BenitoMarin BenitoMarin · Answer 1 · 2020-01-05T00:05:28+01:00

Answer:

The correct answer is letter "B": Since the quantity supplied exceeds the quantity demanded, the Philadelphia Phillies could lower ticket prices to increase attendance.

Explanation:

According to the context, all the attention was on the Los Angeles Dodgers and the San Francisco Giants game since both teams had chances to win the championship. It will imply the rest of the day matches were not going to have a lot of attendance. The ballpark for the Phillies game could have been filled in the case ticket prices were lowered for basic demand theory (if prices decrease, quantity demanded will increase).