At a Chicago Bulls game 20,000 tickets were sold at 30 apiece. The game was sold out and some people did not get tickets. This suggests that the selling price: Select one: a. was at equilibrium. b. was above equilibrium. c. could not have been any higher. d. was below equilibrium.

The correct answer is:<br /><br />b. was above equilibrium.<br /><br />Explanation:<br /><br />When the price of a good or service is above the equilibrium price, it typically results in a lower quantity demanded. In this case, since the game was sold out and some people did not get tickets, it suggests that the price of $30 per ticket was above the equilibrium price. If the price had been at or below equilibrium, the quantity demanded would have been higher, and the game would not have sold out so quickly.