(Solution) - For some rock concerts thousands of fans stand in line -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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For some rock concerts, thousands of fans stand in line for hours to purchase tickets. What is the likely event on aggregate surplus that if resale of those tickets in a competitive market is possible? Would aggregate surplus be higher if the concert tickets were priced to begin with at the resale market's equilibrium?