--%>
Assignment Help - homework help

Problem regarding to intermediation for ticket scalping

Ticket-scalpers allow latecomers to ignore standing into line for tickets and permit people to wait till the last moment before deciding to attend athletic or concerts events. Are promoters of an event harmed through scalping? Must ticket scalpers' services be free? See when you can devise graphs to clarify this form of speculation.

E

Expert

Verified

The production of any type of good or service, with avoidance of queuing, involves costs. Without compensation, any scalper will not give this service. Events’ promoters who wish to ignore scalping could simply increase prices till they were assured surpluses of tickets and seats. Promoters do not do this since they are not harmed by scalping and do not actually want to remove scalping. When scalping was eliminated, this would decrease demands for tickets for events which unexpectedly failed to draw adequate crowds to fill the seats. Following figure demonstrates the market for scalping and tickets.

1932_intermediation for ticket scalping.png

   Related Questions in Microeconomics

  • Q : Exploitation and the Wage Rate Assume a

    Assume a neither firm possessing both the monopsony power as an employer and the market power in its output market, however which can neither wage discriminate nor price discriminate. In the equilibrium in its labor market for workers, of the given va

    		•
  • Q : Determine possibly accurate order of

    Which of the given in lists of taxes or taxed goods is possibly in accurate order from most backward-shifted to most forward: (w) Tobacco, property, general sales and payroll. (x) Land, payroll, tobacco and property. (y) Tobacco, payroll, corporate in

    		•
  • Q : Quantity demanded of good What cause do

    What cause do heterodox economists employ to argue that the quantity demanded of good is a not a function of its price but of the family’s (consumer’s) income? And also discuss, For heterodox economists, household choice is not regarding maximizing utility

    		•
  • Q : Biography-Thorstein Veblen The thought

    The thought that the desire of people to purchase goods is culturally recognized as opposed to the price determined is the vision of: (i) Irving Fisher. (ii) Karl Marx. (iii) Thorstein Veblen. (iv) Ludwig von Mises. (v) Antoine Augustin.

    Q : Stable Competitive Economy Into a

    Into a stable competitive economy without innovation, transaction, or uncertainty costs, all accounting profits would be: (w) pure economic profits. (x) payments required to secure owner-provided resources. (y) pure e

    		•
  • Q : Profits of large corporations Can

    Can someone help me in finding out the right answer from the given options. The enormously high profits of big corporations are: (1) Incentives which attract the competition by other firms. (2) Immune to the business cycles. (3) Mainly due to the corporate manipulatio

    		•
  • Q : Problem on diminishing returns I have a

    I have a problem in economics on Problem on diminishing returns. Please help me in the following question. The principle of diminishing marginal utility is a contrast of the law of: (1) Comparative consumer benefit. (2) Diminishing returns. (3) Effective explanation.

    		•
  • Q : Basic definition of Production I have a

    I have a problem in economics on Basic definition of Production. Please help me in the following question. Production is the process in which: (i) Technology and human knowledge are utilized to apply energy to convert materials to make them more preci

    		•
  • Q : Determinants of demand affect the price

    For a particular product how do the determinants of demand affect the price?

    		•
  • Q : Income elasticity of positive and

    This given figure as in below demonstrates how consumption of goods A, B, C and D varies like a family’s income changes. Since income rises, the income elasticity of demand is positive and increasing for: (w) good A. (x) good B  (y) good C.

    		•