My limited understanding of economics suggests that if one person were to buy 50 Namath Rookies and thus greatly reduce supply, then the price would indeed increase, but with the increased price, demand would also decrease. If demand decreases, then the price decreases. If I can't get a Namath rookie at a price I can afford, don't I just eventually move on to Joe Montana?
Also, if supply decreases, production usually increases. So wouldn't more people who wouldn't have previously sold their Namath card now put it in the market, thus increasing supply again and causing prices to decrease. I seem to remember something about price equilibrium.
I have a headache.
Last edited by SAllen2556; 06-08-2016 at 10:28 PM.
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