Economists Argue That Restrictions Against Ticket Scalping Actually Drive Up

question 155

True/False

Economists argue that restrictions against ticket scalping actually drive up the cost of many tickets.

---

Definitions:

Output

The total amount of goods or services produced by a business, industry, or economy.

Economic Efficiency

A situation where resources are utilized in the most optimal manner, producing the desired output with minimum waste or expense.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive.

Consumer Surplus

Consumer surplus is the difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.