Question

Met World Series ticket prices spike after NLCS win Now that the New York Mets are in​ baseball's World Series for the first time in 15​ years, fans who​ don't have a ticket will pay a hefty​ $1,667.82 to get one.​ That's the average asking price for a resold​ ticket, which is the highest since World Series​ price-tracking started in 2010. ​Source: CNBC, October​ 22, 2015 Why is a​ $1,667.82 ticket price similar to​ "price gouging"? Is the high price an example of the market price method of allocating scarce​ resources? Is the market for tickets​ efficient? Is it​ fair?

Answer 1

Answer:

The answer is " It is exceptionally high and the product of an extraordinary event".

Explanation:

The Market value or the price is bouging to its result of many an unusual occurrence of certain request or supply shock or the price values the commodity is unexpectedly inaccessible. Its price increases to is the highly inefficient and sometimes unethical amount by its supplier, that's why its price will be increased.