Suppose you bought a concert ticket from ticketmaster for, Ask an Expert

Economics

Suppose you bought a concert ticket from Ticketmaster for $50, but when you got to the concert scalpers (individuals who re-sell tickets at the event) were selling tickets in the same seating area as yours for $25. What is probably true?

A. There is excess demand for this concert at the Ticketmaster price.

B. The ticket you bought was under-priced for the market.

C. There is an excess supply of tickets for this concert at the Ticketmaster price.

D. The Ticketmaster price is an equilibrium price.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91368359

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