Saturday, May 28, 2011

Iowa Football Ticket Shortage

The Iowa City Press Citizen reports that the demand for Iowa Hawkeye football tickets is greater than the supply of Iowa Hawkeye football tickets. This is a good example of a shortage. A shortage occurs when at a given price the demand for a good/service is greater than the supply of that good or service. The quick solution is to raise the price to get rid of the shortage.

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