Standard tickets for Beyonce’s Renaissance tour went on sale in the UK for a price of £56 in February 2023. Many fans complained about receiving constant error messages and being stuck in long on-line queues of more than 500,000 people. In response to these negative comments a spokesperson for Ticketmaster, the company in charge of selling the tickets, stated that: ‘There was never going to be enough tickets to meet demand’ Using demand and supply analysis, discuss this comment paying particular attention to the potential implications for: the existence of a secondary ticketing market and allocative efficiency. Explain the impact of different assumptions about sorting in your answer.
Standard tickets for Beyonce’s Renaissance tour went on sale in the UK for a
£56 in February 2023. Many fans complained about receiving constant error
messages and being stuck in long on-line queues of more than 500,000 people. In
response to these negative comments a spokesperson for Ticketmaster, the
company in charge of selling the tickets, stated that:
‘There was never going to be enough tickets to meet
Using demand and supply analysis, discuss this comment paying particular attention
to the potential implications for: the existence of a secondary ticketing market and
allocative efficiency. Explain the impact of different assumptions about sorting in
your answer.
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