Refer to the following graph of the market for concert tickets: For some rock co

Q: Refer to the following graph of the market for concert tickets: For some rock co

1.It decreases by area A. 2. It increases by area (A+C).

ID: 2505480 • Letter: R

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Refer to the following graph of the market for concert tickets:

For some rock concerts, thousands of fans stand in line for hours to purchase tickets .

a. What is the likely effect on aggregate surplus if resale of those tickets in a competitive market is possible?

b. What is the likely effect on aggregate surplus if the concert tickets were priced, initially, at the resale market

It increases by area C. It increases by area (A+B). It decreases by area A. It decreases by area C. Refer to the following graph of the market for concert tickets: 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? What is the likely effect on aggregate surplus if the concert tickets were priced, initially, at the resale market's equilibrium price?

Explanation / Answer

1.It decreases by area A.

2. It increases by area (A+C).

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Refer to the following graph of the market for concert tickets: For some rock co

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