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Ticknts to a rock concert soll for $32. But at that prion, the quanity demanded is substantially greater than the available number of Bicknts. Is the value or marginal benafit of an additional ticket greater than, loss or equal to $32 The marginal veslue or benefit of an additional tioket is greater than $32 You could delermine the marginal value of the ticket by auctioning of
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Answer #1
  • Since the prevailing price does not satisfy current demand for ticket. Hence, price does not truely reflects the demand and supply forces.
  • Here, The Marginal value or benefits of an additional ticket is greater than $ 32
  • you could determine the marginal value of the ticket by auctioning it off more to reduce marginal value of ticket.
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