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31 October, 05:25

If the organizers of a major sports event set the ticket price above the equilibrium level, then scalping will develop in a secondary market for tickets.

True / False.

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  1. 31 October, 06:55
    0
    Answer: FALSE

    Explanation: Scalping in the market refers to the situation of making small profits from price changes.

    In the given case, scalping cannot occur as the initial trader is already pricing the offered service at a price higher than the equilibrium level, thus, the market for the secondary dealer will not be very strong as the demand for the product will depend heavily on the initial prices set.

    Hence, the given statement is false.
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