Think of ticket scalpers at a rock concert, a baseball game, oran opera. Might they exist because the tickets to these eventswere originally sold for less than the equilibrium price? Whyor why not? In what way is a ticket scalper like and unlikeyour retail grocer, who buys food from a wholesaler and thensells it to you?

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...
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Think of ticket scalpers at a rock concert, a baseball game, or
an opera. Might they exist because the tickets to these events
were originally sold for less than the equilibrium price? Why
or why not? In what way is a ticket scalper like and unlike
your retail grocer, who buys food from a wholesaler and then
sells it to you?

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