Discuss the economic aspects of ticket scalping
Discuss the economic aspects of ticket scalping also identifying the gainers and losers?
Expert
Ticket scalping occurs in situations in which the original ticket price is set below the equilibrium price. This means that holders of tickets can find buyers who are willing to pay a higher price than that printed on the ticket. Basically, there is a shortage or the quantity demanded exceeds the quantity supplied at the original price. Various ticket holders are willing to part with their tickets by selling them at a higher price than the price they paid, and some buyers are willing to pay this higher price. In some another words, both the buyers and sellers voluntarily enter into the “scalping” transaction because both expect for profits. The buyers value the tickets more than the money and the sellers value the money more than the tickets. In this case only losers would be the sponsors of the event, who could have charged higher prices for the tickets originally. However, they don’t lose because of the scalping, but because they originally priced the tickets below equilibrium.
What are the Examples and Applications of International Trade?
Why Trade barriers hurt American consumers?
Utilitarianism proposes such that the finest society is one which gives the: (w) fundamental goods to meet people’s requirements. (x) greatest happiness for the maximum number of people. (y) exact measurement of utility and disutility. (d) highe
Economics professors would attribute students’ higher rates of attendance on days while examinations are administered to the: (w) intensified needs to learn valuable material. (x) higher opportunity costs of missing set relative to other schedul
Illustrate the Comparative advantage and terms of trade?
Give a brief introduction of the term Control Principle?
Question: The Theory of Purchasing Power Parity says that, in the long run, nominal exchange rates change to offset changes in relative i. _________________________ so that the purchasing power of two currencies st
Why Public or social goods not be produced through the market?
Not like speculation, there arbitrage is: (w) an activity which is generally more lucrative when conditions are favorable. (x) a profitable and relatively riskless activity. (y) the process of representing a domestic company within fo
Briefly state the pros and cons of Corporation?
18,76,764
1954976 Asked
3,689
Active Tutors
1442743
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!