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Basic economics tells us that a perfect product price does exist. The perfect price is found when supply and demand meet in a place economists call the “equilibrium.” For an event, this would mean that you sell out of all your tickets and your price was high enough that you did not undercut any potential profits. Observing the law of supply and demand, in-person and virtual tickets have one fundamental difference. In-person tickets have a limited supply and virtual tickets have an unlimited supply. Each ticket type will have its own “price elasticity” which describes the product’s responsiveness to changes in price. A prime example of this would be to look at a change of in-person ticket prices versus a change of the price for virtual tickets. Because in-person tickets have a limited supply, you can assume that this will drive up prices. You can also assume that the limited supply will make consumers less sensitive to price changes for this product.