Answer: The shape of the supply curve for tickets to football games at the stadium with 70,000 seats is upward-sloping. This means that as the price of tickets increases, the quantity of tickets supplied also increases.
The reasoning behind this is simple: when the price of tickets is high, there is more incentive for the sellers (e.g. the stadium, ticket resellers, etc.) to sell more tickets. They have the ability to supply more tickets as the demand for tickets at the high price is likely to be higher, thus increasing their profits.
However, it is important to note that the upward slope of the supply curve is not necessarily linear. The supply curve for tickets to football games is likely to be more elastic in the higher price range, meaning that as the price continues to increase, the quantity supplied may increase at a slower rate. This is because at some point, even if the price continues to rise, there will be a limit to how many tickets can actually be sold due to a decrease in demand.
Overall, the upward-sloping shape of the supply curve for tickets to football games at the stadium with 70,000 seats reflects the basic principle of supply and demand: as the price increases, the quantity supplied will also increase, but at some point, the increase in price will lead to a decrease in demand, limiting the quantity supplied.
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