View the step-by-step solution to:

Beer prices at major league baseball stadiums are usually much higher than prices at a bar or restaurant. This is mainly because a.

Beer prices at major league baseball stadiums are usually much higher than prices at a bar or restaurant. This is mainly because




a. it costs the owners of the baseball teams more money to buy the beer from distributors.

b. demand is much higher at a baseball game than at a bar.

c. baseball team owners have market power and can charge a higher price when they are the only sellers of the beer.

d. the government forces the owners of baseball teams to charge a high price.

e. the owners' baseball teams are not profit maximizing.

Top Answer

Correct option is c. baseball team owners have... View the full answer

Sign up to view the full answer

Other Answers

c. baseball team owners have market power... View the full answer

1 comment
  • THE CORRECT ANSWER IS b. demand is much higher at a baseball game than at a bar.This is because there is usually many people at the same time at the leagues and therefore demand is high,raising the price. KINDLY IGNORE OPTION C
    • maishprudence
    • May 08, 2018 at 11:22pm

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online