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?
In: 821
Sony did this. The PS 5 was in short supply. They kept the price stable. People with connections or luck got theirs (and maybe extra as well) and then started selling them to consumers that were not so lucky.
Latest Answers