the state government of Dalmatia noticed that whenever its baseball team played

Question

the state government of Dalmatia noticed that whenever its baseball team played a match in any of the local stadiums the prices of tickets became too high it decided to impose a price ceiling on the ticket prices the exhibit given below shows the demand curve for and the supply curve a baseball game tickets in Dalmatia if the government were to impose a binding price ceiling it should set the price at.
$80 per ticket which would give rise to a surplus of 8000 tickets
$80 per ticket which would give a rise to a shortage of 16,000 tickets
$120 per ticket which would give rise to a surplus of 20,000 tickets
$120 ticket which would give rise to a shortage of 10,000 tickets

11 The state govemment of Dalmatia noticed that whenever its baseball team given below shows the demand curve for and the supply curve of baseball Price 120 10 12 20 28 30 Quantity (irn thousands) $80 per ticket, which would give rise to a surplus of 8,000 tickets. $80 per ticket, which would give rise to a shortage of 16,000 tickets. $120 per ticket, which would give rise to a surplus of 20.000 tickets $120 per ticket. which would give rise to a shortage of 10,000 tickets

Explanation / Answer

Option 2

The reason is by fixing the price ceiling it would have supply of only 12 thousand and demand of 28 thousand which would create shortage of 16 thousand

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