When the tickets for the Glastonbury Festival go on sale, the demand exceeds supply by a considerable
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When the tickets for the Glastonbury Festival go on sale, the demand exceeds supply by a considerable margin. Many people who are willing to pay the price for tickets are excluded from the market. Explain how charging a higher price for tickets for the Glastonbury Festival would lead to a more efficient market allocation. Would this also be an equitable market allocation? Explain.
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