In what sense is the price of tickets too low

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Reference no: EM13236317

In Rolling Stone magazine, several fans and rock stars, including Pearl Jam, were bemoaning the high price of concert tickets. One superstar argued, "It just isnt worth $75 to see me play. No one should have to pay that much to go to a concert." Assume this star sold out arenas around the country at an average ticket price of $75.

Suppose that due to this star's protests, ticket prices were lowered to $50. In what sense is this price too low?

Reference no: EM13236317

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