Final answer:
The high demand and high prices of tickets can be attributed to the popularity of the event, scarcity, and the concept of supply and demand.
Step-by-step explanation:
The high demand for tickets and high prices can be attributed to several factors. First, the popularity of the event or performance plays a significant role. If the event is highly anticipated or features renowned artists, the demand for tickets will be high, allowing sellers to set higher prices. Second, scarcity also drives up ticket prices. If there are limited seats available or if the venue is small, people will be willing to pay more for the opportunity to attend. Lastly, the concept of supply and demand further impacts ticket prices. When the demand is high and the supply is low, prices tend to increase.
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