Question: a) Explain the difference between a market surplus and a market shortage. b) Draw a demand and supply diagram which illustrates a surplus for a

a) Explain the difference between a market surplus and a market shortage.

b) Draw a demand and supply diagram which illustrates a surplus for a global pop star'slive performances.

c) Is thepractice of minimizing the supply of concerts by leading artists one of risk minimization or sales maximization?

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