Wednesday, September 10, 2008
I know that F1 is a big thing in Singapore, but exactly how much too much? I read an article saying that the event company in charge was planning a million dollar ticket that would be awarded to the highest bidder. So what exactly does this million dollar ticket entail? An opportunity to sail a 150 foot yacht, private jet, basically royalty treatment. The catch? There's only ONE ticket.
That's right, only one. So what's the first thing that you think of when you hear all this information? Crazy? Who would pay for such a thing? Well believe you me, there are people out there crazy enough to pay for it.
But that was not the first thing that I thought of. No. Crazy me immediately drew a simple demand supply model in my head, and with the supply curve perfectly inelastic at one, I just imagined the demand curve moving up and up. Where will it stop???!!! But you know what? That just gave me another idea for my third research question now.
Dan
9:33 pm