Exam 34: Ticket Brokers and Ticket Scalping

During the rapid expansion of NASCAR during the 1990s and 2000s, the Bristol Motor kept expanding capacity to keep up with demand. The August race became the 3^rd most attended sporting event in the world. The recession of 2007-2009 diminished fan interest in that race such that there were empty seats in 2010 and 2011. It would have been in that owner's best interest to

The basic reason that your college's women's basketball tickets are rarely if ever scalped is because

The Indianapolis Motor Speedway hosts the Indianapolis 500, the Brickyard 400, in addition to other races. During their respective peaks, both events were sellouts. The 2009 through 2011 versions of the Brickyard 400 saw 100,000 or more empty seats. It would have been in that owner's best interest to

If the New Orleans Saints were playing the Arizona Cardinals in the NFC final to determine who would play in the Super Bowl and their fans were willing to pay three times the face-value price for tickets, economists would suggest that a scalping market would appear and it

The better economic model for ticket sales by the promoter is

Suppose one of baseball's most ensuring records - the Pete Rose career hit total record - were on the line. Tickets to the games leading up to breaking of the record might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it

Demand for a "once-in-a-lifetime event" is likely to be

If scalping is defined as selling tickets for more than face value, outlawing scalping with perfect enforcement of the law will cause

A market for scalped tickets exists only because the ticket sales policies of the event promoter

The Fill-in-the-Blank State University women's basketball team plays its games in the same facility as the men's team. The seating capacity is therefore the same for each. A profit maximizing university would

The NFL Ticket Exchange is an attempt by the NFL

Although it is illegal in some locations to re-sell a $100 ticket to an event for $200, it is seldom illegal

If you were going to expand a facility by adding 10% more seats, and the costs of providing ushers and other personnel to deal with the new seats was exactly the same (on a per seat basis)as the older portion of the facility, the new MC curve would look like the previous one except that it would

Figure 34.4 -A promoter finds the optimal capacity where capacity is exactly

If scalpers were to charge only face value for tickets to a sold-out event, there would be

For a promoter to maximize profit, he will have to sell out the venue.

Suppose one of baseball's most enduring records - the Dimaggio 56 game hit streak - were on the line. Tickets to the 57^th game might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it

A promoter might charge less than the profit maximizing ticket price because

Figure 34.2 -Referring to Figure 34.2, the number of tickets that this promoter will choose to sell will

A flat marginal cost curve prior to capacity being reached suggests that the marginal cost of providing entrance to the 100^th person is