Lady Gaga concert sells out in under 48 hours! 60,000 tickets sold." What can an economist conclude from the above headline? The quantity of tickets demanded is at most 60,000 and the quantity supplied is at least 60,000. The price of Lady Gaga concert tickets is too high. The quantity of tickets supplied is 60,000 and the quantity demanded is at least 60,000. The quantity of tickets supplied exceeded the quantity of tickets demanded.

Let's consider a hypothetical airline, mudlarks airlines. on one of its flights, precious records show that about 15% of people who had tickets for the flights did not take the flight. there are 120 seats on the plane. 1. how many tickets should mudlarks airlines sell for this flight? 2. as an added consideration, suppose that tickets on this flight cost a flat rate of $250. in addition, mudlarks airlines must give any traveler who purchased a seat for the flight, but who cannot travel due to overbooking, a $400 certificate for their trouble. does this change your answer in question one? now, suppose that mudlarks airlines forms a partnership itch another airline, puffin air. their agreement allocates 100 seats on the flight to mudlarks airlines and another 20 seats to puffin air. the 2 airlines sell tickets for the flight independently of each other. 3. assuming the same 15% no show percent for each airline, how many tickets should each sell?