Problem
For some rock concerts thousands of fans stand in line for hours to purchase tickets. What is the likely effect on aggregate surplus if resale of those tickets in a competitive market is possible? Would aggregate surplus be higher if the concert tickets were priced to begin with at the resale market's equilibrium price?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.