Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The price charged by the theater for a ticket to the Broadway show Hamilton is so low that there is a huge excess demand for

The price charged by the theater for a ticket to the Broadway showHamiltonis so low that there is a huge excess demand for the tickets. Ticket brokers buy these tickets at the low price charged by the theater, and they resell them at much higher prices. These ticket brokers have used illegal software called "ticket bots" to buy tickets.

In an effort to thwart the use of this software, theaters are now requiring buyers to type characters into a box to prove that they are human. This new policy, requiring people to type characters into a box, will have an impact on the market forHamiltontheater tickets. Below is a list of possible impacts. Move the impacts that will result from the requirement that buyers type characters into the box labeled "Will Occur." Move the impacts that should not occur into the box labeled "Will Not Occur."

Possible effects(4 items)(Drag and drop into the appropriate area below)

  • Theaters will sell more tickets
  • Ticket brokers will hire human workers from other countries to buy tickets
  • Many people who purchase tickets should be able to do so at lower prices
  • Ticket brokers will not be able to obtain tickets to resell

Will occur:

Will not occur:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Marketing

Authors: Shane Hunt

3rd Edition

1260800458, 9781260800456

More Books

Students also viewed these Economics questions