In 2016, the face value of tickets to the Broadway musical Hamilton was
A)above the equilibrium price.
B)below the equilibrium price.
C)set exactly at the equilibrium price.
D)lowered due to falling demand.

Question

Quizplus · Accepted Answer

The face value of tickets to Hamilton was below the equilibrium price because the demand for tickets was extremely high, leading to a secondary market where tickets were sold at much higher prices.

In 2016, the Face Value of Tickets to the Broadway