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QUESTION
Use a graph with attendance on the horizontal axis and the price of tickets on the vertical axis to show the effect of the following on the market...
Use a graph with attendance on the horizontal axis and the price of tickets on the vertical axis to show the effect of the following on the market for tickets to see the Vancouver Canucks play hockey.
- The quality of play falls, as European players are attracted to play in rival hockey leagues in their home countries.
- Demand shifts left, price decreases, equilibrium quantity decreases.
