Watch the video clip from Jingle All the Way.? ?(View Transcript.)? ? Consider the following: Prices serve a rationing function. When quantity demanded exceeds quantity
Watch the video clip from Jingle All the Way. (View Transcript.) Consider the following: Prices serve a rationing function. When quantity demanded exceeds quantity supplied, prices rise to alleviate the shortage. When quantity supplied exceeds quantity demanded, prices fall to alleviate the surplus....