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What is the likely outcome of many people attempting to buy a small amount of goods?
Wiki User
∙ 7y ago
The law of supply and demand would cause the price to skyrocket. "Tulip mania" occurred in the early 1600s, when contract prices went way, way up- and then suddenly collapsed. The event is considered to be the first recorded speculative bubble, or economic bubble.
Wiki User
∙ 7y ago
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