Tickets for Music Concerts That Are Sold on the Internet

question 154

Multiple Choice

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

• A)concert goers are not rational.
• B)prices for purchasing digital music have increased.
• C)the market price for concert tickets may be set above its equilibrium price.
• D)the market price for concert tickets may be set below its equilibrium price.
• E)the market price for concert tickets is at its equilibrium level.

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Definitions:

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The impact that changes in the economy have on individuals, businesses, and government policy.

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An example or instance of something that is typical or representative of its kind, often used to illustrate common characteristics or principles within a specific field.