ECON101 Lecture Notes - Lecture 6: Kijiji, Perfect Competition, Diedrich Coffee
17 Sep 2018
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Econ 101 - lecture #6 - supply & demand. It would be better to manufacture cars in canada because of the comparative advantage of having to make 4 cars out of only 0. 25 apps. There would be a problem with production if you produce in the usa but sooner or later your company will go bankrupt. Canada because you have a better comparative value. Top hat question: many super bowl football tickets are resold online for several times their face value. As the game day approaches, unsold tickets will likely: Rise in price to make up for unsold tickets. Rise in price to target desperate last minute buyers. C. fall in price to avoid letting the tickets go unsold. D. fall in price because demand falls as game day approaches. As game day approaches, demand falls and so ticket prices fall as well. A group of buyers and sellers; anywhere buyers and sellers interact.
