Excess Demand in Ticket Market

Steps:

• Identify fixed supply: Stadium capacity limits tickets to 40,000.
• Note high demand: Tickets sell out quickly, exceeding supply.
• Observe shortage: Many unable to buy, creating disappointed buyers.
• Match to diagram: Select one showing quantity demanded > quantity supplied at market price.

Why B is correct:

• B illustrates excess demand (shortage) per supply-demand model, where demand curve lies above supply at equilibrium price, matching sold-out scenario.

Why the others are wrong:

• A: Depicts surplus (excess supply), opposite of shortage.
• C: Shows market equilibrium, no excess demand or disappointed buyers.
• D: Indicates price floor or unrelated shift, not reflecting quick sell-out shortage.

Final answer: B