Why is it that in economics, when demand is greater than supply, prices “automatically” go up? Isn’t it sellers that decide to raise prices because buyers are willing to pay more? Couldn’t sellers choose to not raise prices?
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You just asked why scalpers exist…
If they do keep the price the same, they will run out of supply, and the majority of the product will be resold on the secondary market. They are better off raising prices and keeping more of the $ for themselves… in theory.
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