"Perhaps the equilibrium isn't as balanced as estimated. It's impossible to know for sure. There are more than 70,000 members in the Bethpage State Park reservation system. The course can accommodate 35,000 rounds per year. The phone system books up completely by 7:03 p.m. every night. People want to play golf. Until there is a greater supply of affordable, quality options, NY Golf Shuttle will continue to play the market. And if you want to get on Bethpage, remember this outfit is the cause of, and solution to, your problem."
The above quote from the article from Golf Digest says it all, the equilibrium isn't balanced. There is more demand than there is supply and if there continues to be scalpers, and other agencies like NY Golf Shuttle will continue to exist. People don't care what means they go by to receive their ends, they just in this case want to play golf. Whether this is morally right or wrong is beside the point, economically this is what's happening because there isn't an equilibrium being reached at any price. This article relates exactly what we've been talking about and can be related to the concept of price ceilings, which we discussed earlier this week in class.
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