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Artists risk losing consumer trust if they set the price too high, Mateer pointed out. Just ask Bad Bunny, who received a backlash last year when fans lamented on TikTok that his concert tickets ...
They wouldn't be on sale for those prices if people didn't buy them for that price. If they set the price too high the tickets won't sell — for example, tickets for Adele's Las Vegas shows sold ...
Ticket resale is a form of arbitrage that arises when the number demanded at the sale price exceeds the number supplied (that is, when event organizers charge less than the equilibrium prices for the tickets). During the 19th century, the term scalper was applied to railroad ticket brokers who sold tickets for lower rates. [1]
When the price of a good is set too high, the quantity of the product demanded will be diminished while the quantity supplied will be enhanced, so there is more quantity supplied than quantity demanded. The occurrence of excess supply either leads to the lowering of the price or unsold supply, the latter reflecting excess supply.
An alternative way to use high–low pricing is to increase the price for a short time, sometimes as much as 500 per cent, after which it is "discounted" to what its normal selling price. [4] After the price is reduced to the "sale" price, it may often stay at that price for a long time, sometimes longer than two weeks, after which customers ...
Prices hit a new all-time high in June 2024, with the median sale price for an existing home reaching $426,900, according to the National Association of Realtors (NAR). July’s median price was ...
The intent of price fixing may be to push the price of a product as high as possible, generally leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices. The defining characteristic of price fixing is any agreement regarding price, whether expressed or implied.
And it fuels median home sale prices, which hit a record high $429,900 in April, state economists said. A construction crew works to build a new apartment complex off SW 13th Street in Gainesville ...