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Author Question: The town of Harmonia gives away all 500 tickets to its annual Founder's Day Free Concert-in-the-Park ... (Read 75 times)

Hungry!

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The town of Harmonia gives away all 500 tickets to its annual Founder's Day Free Concert-in-the-Park to local residents. Each year, more than 500 people wish to attend the concert, so some of the residents who receive the free tickets sell them for as much as $75 each. Is a transaction where someone pays a resident $75 for a "free ticket" economically efficient?


No, the buyer paid too much for the ticket.


No, people should never be allowed to sell items they received for free.


Yes, it was a voluntary exchange that benefited both parties.


Yes, but it is efficient only from the perspective of the seller and not from the perspective of the buyer.



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Marked as best answer by Hungry! on Oct 5, 2019

janeli1

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