Problem
1. a. If market price is above equilibrium price, explain what happens and why.
b. If market price is below equilibrium price, explain what happens and why.
2. a. As the price of theater tickets rises, what happens to the quantity of tickets that people are willing to buy? Explain your answer.
b. As the price of theater tickets rises, explain what happens to the quantity of tickets that people are willing to sell. Explain your answer.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.