Q&A Hero

Question

Qcue is a software-based dynamic pricing management company that has developed software to assist professional and collegiate sports teams in increasing their ticket sales by practicing near-perfect price discrimination. Use the following excerpt from a Forbes article about the company to answer the following questions:

Dynamic pricing will become much more prevalent in both professional and collegiate sports over the next few years. . . . In an industry where the demand across games tends to be dissimilar for a plethora of reasonssome predictable, yet some spuriousit only makes sense that the pricing of sports tickets should allow teams the ability to price their inventory in the most efficient way possible. . . . Accurately pricing tickets is a very difficult process, says Barry Kahn, the CEO of Qcue. In the initial stages, we had both technical and emotional barriers to overcome. We were changing the way things had been done for so many years, moving from pricing tickets 9 months out and keeping them static, to allowing the price to flex right up until the first pitch. That meant educating those in charge of ticketing operations as well as the fans. . . . In 2009, Qcue had one client. In 2010, they were working with three teams. Today their roster includes 30+ teams across MLB, MLS, NHL and NBA.

When teams are able to change ticket prices minute to minute based on demand, they are attempting to

a. discount tickets to their most loyal fans.

b. transfer surplus from consumers to producers.

c. prevent the resale of tickets through ticket reselling websites like StubHub.

d. confuse the fans of their rivals in order to gain a home-field advantage.

e. break down the technical and emotional barriers that exist between fans and team owners.

Answer

This answer is hidden. It contains 79 characters.

Related questions

Q: The city decides to offer a subsidy to each homeowners association that plants more flowers in their common areas. In the market for flowers, this will cause the a. supply curve to shift to the left. b. supply curve to shift to the right. c. demand curve to shift to the left. d. demand curve to shift to the right. e. the supply curve to shift to the left and the demand curve to shift to the right.
Q: The market works efficiently in the absence of externalities if the good is a. rival and excludable. b. nonrival and nonexcludable. c. rival and nonexcludable. d. nonrival and excludable. e. rival and either excludable or nonexcludable.
Q: A good that is nonrival and nonexcludable is defined as a ________ good.a. private b. public c. common-resourced. clube. government
Q: Global warming is an example ofa. the tragedy of the commons. b. a public good. c. the club-good problem.d. a positive externality.e. a problem that has an easy solution.
Q: Which rule would NOT protect fish populations? a. limiting the length of the fishing season b. limiting the number of fish that can be caught c. not allowing female fish to be caught d. not allowing young fish to be caught e. catching any fish except males
Q: The tragedy of the commons occurs for goods that area. rival and excludable. b. rival and nonexcludable. c. nonrival and nonexcludable.d. nonrival and excludable.e. never produced by the government.
Q: The quantity produced of a common-resource good is likely to deviate from the socially optimal quantity because a. common-resource goods are nonrival. b. common-resource goods cannot be traded. c. there is an incentive to overproduce the good. d. of the free-rider problem. e. positive externalities are likely to exist.
Q: The ability to download music and movies from the Internet without paying is a. an example of a negative externality. b. an example of a club good. c. an illegal form of free-riding. d. an illustration of the tragedy of the commons. e. something that anyone who pays taxes should be allowed to do.
Q: The air is a ________ good.a. private b. public c. clubd. common-resourcee. government
Q: Which of the following is the best example of a common-resource good?a. a fireworks display b. a lighthouse c. cable televisiond. fish in a lakee. the production of gasoline
Q: If a store sells a good at the market price, even though the government authorities have set the minimum price that can be charged, the store is selling the good in a(n) a. black market for a market price that is higher. b. black market for a market price that is lower. c. effort to eliminate a surplus of the good. d. legal market for a market price that is higher. e. legal market for a market price that is lower.
Q: A market where exchanges occur despite price regulations is called a(n) ________ market.a. hidden b. noncompetitive c. blackd. prohibitede. outlaw
Q: The Coase theorem suggests that private parties a. will never be able to negotiate to correct a negative externality. b. can always negotiate to correct a negative externality. c. can negotiate to correct a negative externality if there are no barriers to negotiation. d. can negotiate to correct a negative externality if the government passes a law allowing them to do so. e. can never negotiate to correct a negative externality if there are more than two parties involved.
Q: Clean air becomes polluted because a. it is a private good. b. no one owns the air. c. it is a club good. d. the air is owned by private corporations. e. the air is owned by the government.
Q: External benefits arise from the actions of a. firms. b. consumers. c. firms and consumers. d. the government. e. firms, consumers, and the government.
Q: What makes an externality positive rather than negative? a. The deadweight loss is greater than zero, not less. b. The socially optimal quantity exchanged is less, not greater, than at market equilibrium. c. The externality affects the demand curve rather than the supply curve. d. The externality benefits third parties rather than harming them. e. The externality becomes internalized without government action.
Q: Consider the accompanying figure to answer the following questions.When a positive externality exists, which point best identifies the social optimum?a. A b. B c. Cd. De. either A or D
Q: When people elect to spend more years in school, this results in a ________ externality because there are ________ associated with this decision.a. negative; internal costs b. negative; external costs c. positive; external benefitsd. positive; external costse. positive; internal benefits
Q: The government imposes a tax on the sale of a good whose production is creating a negative externality. The value of the tax is $4 per unit sold. In the new equilibrium, we would expect a. the same amount to be sold and the price to be $4 higher. b. the same amount to be sold and the price to increase by less than $4. c. less to be sold and the price to increase by $4. d. less to be sold and the price to increase by less than $4. e. less to be sold and the price to increase by more than $4.

Subjects

Accounting Anthropology Archaeology Art History Banking Biology & Life Science Business Business Communication Business Development Business Ethics Business Law Chemistry Communication Computer Science Counseling Criminal Law Curriculum & Instruction Design Earth Science Economic Education Engineering Finance History & Theory Humanities Human Resource International Business Investments & Securities Journalism Law Management Marketing Medicine Medicine & Health Science Nursing Philosophy Physic Psychology Real Estate Science Social Science Sociology Special Education Speech Visual Arts