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Suppose that your school's football team is playing in the conference championship. Your school has sold out of tickets. There are five thousand students who
Suppose that your school's football team is playing in the conference championship. Your school has sold out of tickets. There are five thousand students who want to go to the game and are willing and able to buy a ticket but don't have a ticket. What will happen in the market for tickets to the championship game? Can you think of another example of how a market reacts when there is a shortage or surplus in that market?
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