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If Swift concert organiser sets the ticket price at the market clearing level, show the consumer surplus and producer surplus in a fully labelled diagram
If Swift concert organiser sets the ticket price at the market clearing level, show the consumer surplus and producer surplus in a fully labelled diagram assuming the marginal cost of supplying an extra seat is zero. Is the market efficient? Discuss briefly. (2 marks)
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
1st Edition
978-1464146978, 1464146977
