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Microeconomics is a branch of economics that studies the market behavior of individual actors (usually firms and consumers) and the aggregation of their actions in different institutional frameworks (usually the market).

5
votes
Convenience premium. The market prices in a premium for convenience. This explains why hot dogs cost more inside the ballpark than at the convenience store outside the ballpark. And why convenience s …
answered Jul 6 '16 by Mowzer
3
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It depends on whether all the tickets are sold or not. If sold out, all the the tax burden is borne by the buyers. If not, then it's shared. If sold out, buyers pay all the tax. If all 39,000 ticket …
answered Jul 14 '16 by Mowzer