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re: SEC Student Ticket Prices (Best to Worst?)
Posted on 6/4/12 at 12:45 pm to Projectpat
Posted on 6/4/12 at 12:45 pm to Projectpat
quote:
Your lack of basic economics knowledge is staggering.
Where am I wrong? LSU is a big game for them, so they realize they can charge $100 a ticket and they will all be sold. If LSU requested 50,000 tickets for the game, would the price per ticket go up to $300?
2
Posted on 6/4/12 at 12:49 pm to WG_Dawg
quote:
If LSU requested 50,000 tickets for the game, would the price per ticket go up to $300?
If they really wanted to, yes. They're actually still trying to keep it reasonable, but you can charge more with more demand.
Posted on 6/4/12 at 12:52 pm to WG_Dawg
quote:
Where am I wrong? LSU is a big game for them, so they realize they can charge $100 a ticket and they will all be sold. If LSU requested 50,000 tickets for the game, would the price per ticket go up to $300?
You are understanding the demand part, but not the supply part, or the price elasticity of demand. We don't have 50,000 tickets to give LSU.
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