What happens when goods and services are underpriced? Use this podcast to teach supply, demand, and disequilibrium pricing.
Time: 3:08 minutes.
"For a popular concert, Marcus said online robots can snap up anywhere from 30 percent to 50 percent of the available tickets within moments of the sale opening. That leads to concerts selling out in 10 minutes, and massively inflated resale prices. But according to economist Mark Perry of the American Enterprise Institute, the bots are just a symptom. The real problem is that concert tickets are underpriced."