If the equilibrium price for tickets to a Carrie Underwood concert is $120 each, and she sells them for $100. Instructions: In part b, enter your response as a whole number. a. Does she create a market surplus or shortage? shortage $ O surplus O Neither a shortage nor a surplus. b. Suppose scalpers buy 9,000 tickets and resell them for $120 each. How much profit do the scalpers earn?

If the equilibrium price for tickets to a Carrie Underwood concert is $120 each, and she sells them for $100. Instructions: In part b, enter your response as a whole number. a. Does she create a market surplus or shortage? shortage $ O surplus O Neither a shortage nor a surplus. b. Suppose scalpers buy 9,000 tickets and resell them for $120 each. How much profit do the scalpers earn?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 23QP

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