Why is a $1,667.82 ticket price similar to “price gouging”? Is the high price an example of the market price method of allocating scarce resources? Is the market for tickets efficient? Is it fair?

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Table 1 Price (dollars per haircut) Quantity demanded supplied

(haircuts per day)

0 100 0 10 80 0 20 60 20 30 40 40 40 20 60 50 0 80