Excess demand for Take That tickets
Tuesday, November 02, 2010
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After spending three hours on Friday frantically trying to get Take That tickets (don’t judge me!) I somehow managed to bag some. Not everyone was so lucky. Thousands of fans were left disappointed as they were unable to get tickets for the group. I think this is a great example of excess demand. As ticket prices were below the market equilibrium there was far more demand than supply. Can your pupils draw a diagram to show this? The most able may even draw a perfectly inelastic supply curve as there were only 13 dates so supply was fixed.
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