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Svetllana [295]
3 years ago
15

How might Ticketmaster’s online auction program lead to market equilibrium for the best tickets?

History
1 answer:
Anarel [89]3 years ago
6 0

The tickets in the auction were sold to highest bidder only thus leading to the reduce in demand of sale also and bringing it equal to the supply of sale.

<u>Explanation:</u>

Auction means that there is sale of ticket to the people who bid the highest for that ticket. Because of this highest bidding, there is increase in the price of the good and this leads to the demand of sale reduces because of the increase in price of the ticket.

So the demand of ticket gets equal to the supply of the ticket. This leads to equilibrium situation in the market which means that there is equality of demand and supply of the goods in the market.

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Explanation:

1- Simon Bolivar was a Venezuelan military man and politician, founder of the republics of Gran Colombia (current Colombia, Venezuela and Ecuador) and Bolivia. He was one of the most outstanding figures of the Spanish-American emancipation against the Spanish Empire. It helped to inspire and concretize decisively the independence of the current Bolivia, Colombia, Ecuador, Panama, Peru and Venezuela.

2- Bernardo O'Higgins was a Chilean soldier and politician recognized as one of the "founding fathers of Chile" for his crucial participation in the process of independence from the Spanish Empire, both in the respective war and in the position of supreme director of Chile between 1817 and 1823.

3- Pedro I of Brazil and IV of Portugal was a Portuguese monarch who proclaimed the independence of Brazil and became the first emperor of Brazil and the first head of state of that country.

4- Jose Maria Morelos was a Mexican priest, military insurgent and patriot, who organized and was the architect of the second stage (1811-1815) of the Mexican War of Independence.

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