Acompany released a new video game system just in time for christmas and many stores quickly sold out. although the price of the system was only $350, they sold for over $2,000 on an online auction site. which of the following economic principles best explains this event?
people respond to incentives because of self-interest.
the value of some objects increases relative to other objects.
the price of all goods will rise over time.
competition among consumers increases prices.

I think that the answer is Competition among consumers increases prices.

Explanation:

the correct answer is history and tradition.

when world war i broke out across europe in 1914, president woodrow wilson proclaimed the united states would remain neutral, and many americans supported this policy of nonintervention. however, public opinion about neutrality started to change after the sinking of the british ocean liner lusitania by a german u-boat in 1915; almost 2,000 people perished, including 128 americans. along with news of the zimmerman telegram threatening an alliance between germany and mexico, wilson asked congress for a declaration of war against germany. the u.s. officially entered the conflict on april 6, 1917.