In almost all cases, there is evidence of “a positive secondary price mark-up over face.” For example, “many $600 tickets sold for $2,000.” Explain what this means and why it is evidence of considerable consumer surplus at the set ticket prices.
1
Expert's answer
2017-05-08T08:55:09-0400
Usually sport teams are more concerned about maximizing 'revenue per seat' as opposed to just gate revenues. Further evidence that teams leave gate revenue on the table (or in economic parlance, create consumer surplus for fans) from charging lower face prices than they otherwise could command can be found by looking at secondary ticket pricing. Especially in the NFL which has the greatest scarcity of inventory among all the sports, almost every team averages a positive secondary price mark-up over face. Reference: https://www.forbes.com/sites/prishe/2013/09/19/super-bowl-xlviii-pricing-a-lesson-in-demand-elasticity/#1a4341ad796f
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
Leave a comment