Tickets to athletic and artistic events are sometimes resold at higher-than-original prices – a market transaction known by the term “scalping.” For example, the original buyer may resell a $50 ticket to a college bowl game for $200, $250 or more. The media often denounce scalpers for “ripping off” buyers by charging “exorbitant” prices. From an economic perspective, is ticket scalping undesirable? Who is benefiting and who is losing?
Tickets to athletic and artistic events are sometimes resold at higher-than-original prices – a market transaction known by the term “scalping.” For example, the original buyer may resell a $50 ticket to a college bowl game for $200, $250 or more. The media often denounce scalpers for “ripping off” buyers by charging “exorbitant” prices. From an economic perspective, is ticket scalping undesirable? Who is benefiting and who is losing?
Chapter3: Supply And Demand: Theory
Section3.3: The Market: Putting Supply And Demand Together
Problem 1ST
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Tickets to athletic and artistic events are sometimes resold at higher-than-original
a market transaction known by the term “scalping.” For example, the original buyer may
resell a $50 ticket to a college bowl game for $200, $250 or more. The media
often denounce scalpers for “ripping off” buyers by charging “exorbitant” prices.
From an economic perspective, is ticket scalping undesirable? Who is benefiting and who
is losing?
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