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DIA [1.3K]
2 years ago
13

A company released a new video game system just in time for Christmas and many stores quickly sold out. Although the price of th

e system was only $350, they sold for over $2,000 on an online auction site. Which of the following economic principles best explains this event?
People respond to incentives because of self-interest.

The value of some objects increases relative to other objects.

The price of all goods will rise over time.

Competition among consumers increases prices.
History
2 answers:
Aloiza [94]2 years ago
7 0
The answer would be 'competition among consumers increases prices' because if there was a limited amount, if someone really wants that game, they'd pay more than usual when supplies sold out. 
masha68 [24]2 years ago
4 0

Answer:

I think that the answer is Competition among consumers increases prices.

Explanation:

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