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Tickets for music concerts that are sold on the Internet are often sold out within minutes and many ...

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Tickets for music concerts that are sold on the Internet are often sold out within minutes and many ...

Tickets for music concerts that are sold on the Internet are often sold out within minutes and many unsatisfied customers are unable to get tickets (in the legitimate market). One explanation for this is that

▸ concert goers are not rational.

▸ the market price for concert tickets may be set above its equilibrium price.

▸ the market price for concert tickets may be set below its equilibrium price.

▸ the market price for concert tickets is at its equilibrium level.

▸ prices for purchasing digital music have increased.

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Microeconomics

Edition: 17^th

Author: Ragan

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