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Assume that the price of tickets before the price ceiling is at equilibrium and that the equilibrium price is above the price ceiling of $50.
Assume that the price of tickets before the price ceiling is at equilibrium and that the equilibrium price is above the price ceiling of $50. The price ceiling will _________ of tickets. As a result, _________ people will attend events, because the number of seats in a venue is fixed and performers have no incentive under a price ceiling to restrict the number of tickets sold. Because of the price ceiling, events for which demand is more _________ will experience larger shortages
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