The Grateful Dead (before they disbanded)sold out concert after concert and typically provided a good living for scalpers (people who buy up lots of tickets and resell them at a premium).Explain (using a supply and demand diagram)how the band's ticket pricing policy set an effective ceiling on the price of concert tickets.(Extra Credit: If the Grateful Dead knew their price of concert tickets was below equilibrium,why didn't they raise it?)

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The Answer of The Grateful Dead (before they disbanded)sold out concert after concert and typically provided a good living for scalpers (people who buy up lots of tickets and resell them at a premium).Explain (using a supply and demand diagram)how the band's ticket pricing policy set an effective ceiling on the price of concert tickets.(Extra Credit: If the Grateful Dead knew their price of concert tickets was below equilibrium,why didn't they raise it?)

The Grateful Dead (Before They Disbanded)sold Out Concert After Concert