Asked by
Damon Rizzo
on Oct 09, 2024
Verified
(Consider This) Ticket scalping implies that:
A) event sponsors have established ticket prices at above-equilibrium levels.
B) an event is not likely to be sold out.
C) event sponsors have established ticket prices at below-equilibrium levels.
D) the demand for tickets has fallen between the time tickets were originally sold and the event takes place.
Ticket Scalping
The practice of buying tickets for an event and reselling them at a higher price to earn a profit, often considered illegal or unethical.
Equilibrium Levels
The state in which market supply and demand balance each other, and as a result, prices become stable.
Ticket Prices
The cost charged for admission to an event or access to a service.
- Comprehend the law of demand, the law of supply, and their exceptions.
- Show comprehension of how market mechanisms effectively distribute resources.
Verified Answer
DS
Learning Objectives
- Comprehend the law of demand, the law of supply, and their exceptions.
- Show comprehension of how market mechanisms effectively distribute resources.