Taylor Swift's Eras Tour provides a lesson in the mechanics of supply and demand

Some 14 million people flocked to Ticketmaster in hopes of scoring seats; the majorit Bloomberg successfu Taylor Swift ill hol 52 three events this weekend at MetLife Stadium in East Rutherford, New Jersey.

Some of the cheapest tickets start at around $1,000 in the resale first t.

Swiftie 2018 d Some 14 million ss to splurge have Ticketmaster ful enough to lift local economies.

Two Las Vegas concerts help Swift ost local tourism back to pre-Covid le millions March.

Cities from Atlanta to Boston have also seen a spike in hotel and restaurant bookings when they welcomed the Eras Tour. StubHub Light SeatGeek lGi">2 Twitter an> three _NxlGi"> this weekend > < MetLife Stadium mary East Rutherford ex New Jersey more than $100 around $1,000 Text__NxlGi">Swifties 82,500 ighLightText__NxlGi">an additional $334 a single weekend ghLigh Swift __NxlGi">100 every $Milton Friedman "summaryFeed_highLightText__NxlGi">Live Nation Inc. Ticketmaster’s Ticketmaster LightText__NxlGi">Oxford Economics 2021 the Eras Tour Bostonthousands of dollars mmaryFeed_highLightText__NxlGi">Atlantaas little as $49 plus mmaryFeed_ Economics 101 __NxlGi">March pre-Covid Las Vegas Two Swifties half mber Bloomberg hLightText__NxlGi">two more than $10 million d_highLightText__Nxl between $11 million and $12 million an class="summaryFeed_highLightText__NxlGi">a d Tour Resell > Twitter ss="summaryFeed_highLightTe more than 150,000 Fargo & Co. Shannon Seery Americans November a little over a year 20 to 30 NxlGi">10 more than 2,000 eral Reserve < Angel Richards mm 27 yF one _highLightText__NxlGi">Swifties Connecticut ="summaryFeed_highLightText__NxlGi" Bartering ersity of California at Swiftonomics sp One Carolyn Sl TikTok span> each nightIdaho pan class="summaryFeed_hig 4,000 tText__NxlGi">so Swiftie 00 Louisiana _highLightText__NxlGi">t a year ds two ss="summaryFeed_highLightText__NxlGi">earlier this month three Philadelphia