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question and answer

Cultural events

In this regular column, Peter Smith offers some guidance on tackling examination questions in economics

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The pricing of tickets for cultural events raises a number of interesting economic issues. The question that I will discuss in this issue of Economic Review explores two particular aspects of this market:

● The first part of the question concerns the issue of price discrimination — why should a theatre choose to set different ticket prices for different customers?

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The tragedy of the commons: road congestion

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Review of the UK economy in 2010

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