You're shopping online, and you place an item in your virtual cart. Two days later, you return to the virtual cart to check out and find that the item is now more expensive. Assuming that the market is competitive, what could explain the price increase?

Question

Quizplus · Accepted Answer

In a competitive market, a price increase for an item is typically due to a shortage of that item. When the supply of an item cannot meet the demand, sellers can raise prices knowing that consumers are still likely to purchase the product.

You're Shopping Online, and You Place an Item in Your