Answer to Question #99961 in Microeconomics for Muhammad Amir

Question #99961
Q. 3) Economists usually think of persistent shortages being caused by some interference with the market mechanism. Ask the class if they can think of free markets that experience shortages. There are numerous examples, but one that most will understand is tickets to a hot concert. These tickets are often priced below equilibrium. One reason is to create “buzz” about the event. Some bands claim they keep ticket prices low to be fair to their fans. Ask the class who gains and who loses when the price is set below equilibrium. This can lead to a discussion of the value different people place on their time.

Question: Name two other industries or markets where shortages appear to be created for publicity and marketing purposes.
1
Expert's answer
2019-12-05T01:56:19-0500
Dear Muhammad Amir, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS