ECON 2P03 Study Guide - Midterm Guide: Wayne Gretzky, Knickerbocker Rules, Earnings Before Interest And Taxes
26 Feb 2013
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Babe ruth comparative advantage in hitting, got him to specialize in hitting. 2006 wayne gretzky card sold for . 2011 george vezina hockey card sold . Demand: increase in price of hockey cards decreases your purchasing power, this is called the (income effect) Supply: price change moves supply up or down anything else"s shifts the whole curve. Tickets: are considered a normal good, price and income affect what and where you purchase. Another factor is how the team is doing. Ticket scalping: illegal but it happens, saying that you cant pay past the ceiling, but there is a black market which sells them more. Cant sell for more then the value on the printed ticket price but knows the tickets are worth more if the game is sold out and they will sell at the real value of the ticket"s. The team starts earning revenue and starts collecting interest right away.
