Recession makes precious tickets affordable

Reuters reports on the Masters ticket price decline:

Last year the average price of a four-day pass sold on Stubhub (www.stubhub.com) was $3,930. As of March 30, the average was down to $1,944.

A day pass to Sunday's final round averaged $1,045 in 2008 but this year they are being offered for as little as $370.

"Everything across the board has dropped at least 50 percent," Stubhub spokesman Sean Pate told Reuters.

There's a thing in economics called price elasticity.