Case Study on Supply and Demand 2

Case 2: Taylor Swift Concert Tickets (20232024, U.S.)

• Background: Ticketmaster crashed; resale prices skyrocketed.
• Impact: Huge demand relative to limited supply.
• Data: Tickets resold for $1,000$5,000+ (face value: ~$100$400).

Articles in NY Times

1. Supply & Demand Diagram

• Draw the correct curve shift(s) for your case.
• Label: price axis, quantity axis, original equilibrium, new equilibrium, arrows showing direction of shift(s).

1. Short Written Explanation (121 page)

• State whether supply, demand, or both shifted.
• Explain why, using the real-world data provided.
• Describe the effect on equilibrium price and quantity.
• Identify who gained and who lost (consumers, producers, intermediaries).