Equilibrum price for concert tickets

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Reference no: EM1371004

Equilibrum Price for Concert Tickets

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?

Reference no: EM1371004

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