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Suppose a good or service is highly desired, but the quantity supplied is limited. How does the competition among consumers affect profits for the selling firms?

Suppose a good or service is highly desired, but the quantity supplied is limited. How does the competition among consumers affect profits for the selling firms?
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Suppose a good or service is highly desired, but the quantity supplied is limited. How does the competition among consumers affect profits for the selling firms?

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User GordyD
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1 Answer

3 votes
Th prices rise up as their is high demand and low supply, meaning it will increase the net profit. The profit rises as consumers will be willing to buy the goods at any cost.
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User FaNaJ
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