Equilibrum Price for Concert Tickets
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Equilibrium price is the price at which the quantity of a good demanded in a given time period equals the quantity supplied. When concert tickets are priced below equilibrium, who gets them? Is this distribution of tickets fairer than a pure market distribution? Is it more efficient? Who gains or loses if all the tickets are resold (scalped) at the market clearing price?
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Solution Summary
The solution examines equilibrium price for concert tickets.
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ANSWERS
When concert tickets are priced below equilibrium, it is probable that the people who will get them are scalpels who ...
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