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Business, 13.02.2020 21:01 3345

The price of tickets for a Rolling Stones concert is $50. At that price, tickets sell out almost immediately. After tickets sell out, there are over 20,000 people who still want to buy tickets to the concert at the $50 price. It follows that:.
a. the market equilibrium price of tickets to the concert is $50.
b. the market equilibrium price of tickets to the concert is less than $50.
c. the market equilibrium price of tickets to the concert exceeds $50.
d. at the $50 price, there is a surplus of tickets on the market.
e. both (c) and (d).

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