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Superstar rock singers (Lady Gaga?) set their concert ticket prices below equilibrium because: a) it's too costly to calculate equilibrium price b) charging equilibrium prices
Superstar rock singers (Lady Gaga?) set their concert ticket prices below equilibrium because:
a) it's too costly to calculate equilibrium price
b) charging equilibrium prices is against the law in many jurisdictions
c sold-out concerts produce free publicity and contribute to the promotion of recording sales
d) it lowers singer's income and this saves on taxes
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