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When excess demand exists for tickets to a major sporting event or a​ concert, profit opportunities exist for scalpers?

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User Machta
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1 Answer

1 vote
Here is the answer. When excess demand exists for tickets to a major sporting event or a​ concert, profit opportunities exist for scalpers because they do work efficiently because they allow ticket prices, especially those in high demand to reach an equilibrium by supplying those who want a ticket at market price allowing them to get one, and by allowing those with utilities below the market price to sell them. With their help, no tickets would be gone to waste. Hope this answers your question.
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User Johansson
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