Econ Excerpt Group 109

Econ Excerpt Group 109 - football games Football is a more...

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Econ Excerpt Group 109 Questions 1. Why is it that on average energy demand is higher in summer months than during the winter months? This question has been asked to establish the relationship between energy demand and seasons in this case winter and summer while energy demand in this circumstance refers to demand for electricity for various purposes like lighting, heating and cooling. Since energy is a hot button issue we wanted to explore the reasons why energy demand differs in these two seasons while formulating arguments and reasons that are consistent with the principles of economics. Considering that the question is dealing with the demand we, shall explore the various factors that influence demand in both summer and winter. 2. Why at most college’s regular season basketball tickets cost less than football tickets? Due to the fact that football stadiums can hold more people than a basketball arena, if the president of a university raises football tickets he/she would make a larger profit out of the
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Unformatted text preview: football games. Football is a more popular sport than basketball is, in most colleges, so more people will pay to watch a college football game than a regular season basketball game. As to increase the demand for basketball tickets and to encourage more people to buy them, university officials lower prices of their season tickets. If the price of a basketball game’s ticket was as high as the price of a football game’s ticket, many people would not purchase tickets to watch the basketball game as the demand to watch college football and the satisfaction of cheering on your college team from your home stadium is much higher than the demand and satisfaction gained from basketball games in most universities. The opportunity cost of watching a basketball game would be considered much higher than the opportunity cost of watching the football game....
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This note was uploaded on 03/25/2008 for the course ECON 02 taught by Professor Clairsmith during the Spring '08 term at Penn State.

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Econ Excerpt Group 109 - football games Football is a more...

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