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Blog

Ticket touts, the Olympics and excess demand

Jim Riley

27th March 2011

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Here is a great example of the problems caused by prices being below the equilibrium. Ticket touts have already started to sell Olympic tickets for vastly inflated prices. Can your students draw the diagram to help explain the excess demand that is caused?

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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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