Question

If ticket prices and ticket sales have both been increasing steadily from 1998-2008. What would the Supply a Demand graph look like? Would it be just like a traditional one (like and X? I just don't get it.

Answer 1

The demand curve (tickets sold vs price, which falls when P increases) must be shifting to the right and upwards with time, while the supply curve remains about the same (rising with P). That way, both the number sold and the the price will increase at the equilibrium point.