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For each of the following five (5) scenarios, you must identify the impact on demand for and the price of Washington Capitals tickets and explain why the scenario has the identified impacts. It may help to draw supply and demand curves. Each answer is worth two (2) points.
a) Rather than pursuing Wayne Gretzky's all-time goals record, Alex Ovechkin leaves the Capitals to play hockey in Russia.
b) The District of Columbia places a $20 surcharge tax on all sports tickets.
c) The Washington Wizards basketball team moves to Seattle, Washington.
d) The United States Congress bans lobbyists from using sports tickets to entertain clients, politicians, or government employees.
e) The Washington Capitals reduce the capacity of Capital One Arena by 5,000 seats.
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