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Excess supply at the Millennium Stadium

Jim Riley

14th November 2010

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Having just moved to Wales I was keen to watch one of the Autumn Internationals at the Millennium Stadium. If any of you watched the game yesterday you couldn’t help but notice there were quite a few spare seats at the stadium, 20,000 to be exact. So what is the cause? Quite simply the prices of the tickets are far too high causing excess supply. Could your pupils draw a diagram to help explain this situation? The most able may even show supply to be perfectly inelastic.

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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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