anonymous
  • anonymous
When the professor lectured in the first class, he said getting in the line to buy the ticket of concert is not due to the mechanism of price. However, I have a different opinion on this. I think getting in the line is also the result of price mechanism. Because people sacrifices the time which he or she may spend on other thing such as making money from it to get in the line for the ticket. So it looks like you don't have a price on the line. Actually, it is the price functioning behind it.
OCW Scholar - Principles of Microeconomics
chestercat
  • chestercat
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anonymous
  • anonymous
That point was a little confusing to me too when he mentioned it, but I am wondering now if by talking about lines, he was making the point that there are more people who want to buy the tickets than there are tickets. If price determined everything, there would be no excess buyers (and therefore no line) because the tickets would be the highest they can possibly go and still have people buy them.

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