question archive What does the presence of ticket scalpers suggest about the market for sold-out shows? A
What does the presence of ticket scalpers suggest about the market for sold-out shows? A
Subject:MarketingPrice:2.88 Bought3
What does the presence of ticket scalpers suggest about the market for sold-out shows?
A. That the market is already at equilibrium.
B. That the face value of tickets (market price) is less than the market equilibrium.
C. That the face value (market price) of tickets is greater than the market equilibrium.
D. None of the above.
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- The correct option is B) -That the face value of tickets (market price) is less than the market equilibrium.
Usually, the ticket scalping refers to the act of reselling tickets, which can only be done when there is a difference in the purchase price and reselling price; henceforth, it can be inferred that this amount is the gap between the initial price, which is lower than the market equilibrium, and the market equilibrium price.
