Most concerts for major artists are held in venues with finite seating - for example, Camping World Stadium in Orlando with seating for 65,000. If Beyonce' was having a concert there, people would likely line up days in advance for the tickets and there would be many more people who wanted tickets than could actually get them. How does the price elasticity of demand and the price elasticity of supply explain this? For ease of analysis, assume all tickets are the same price and there are no "better seats" than others.

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