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As supply chain problems prolong a shortage of new automobiles for a second year, customers face near-empty dealer lots, high prices and long waits to buy new cars. Although automobile manufacturers discourage dealers from charging more than their cars’ sticker prices, many dealers say they have to be realistic about what the market will bear. In extreme cases, dealerships have charged as much as $40,000 above the manufacturer’s suggested retail price (MSRP) for some luxury cars. Product shortages cause prices to rise and product surpluses cause prices to fall in the free market. Under the current scenario of supply-chain crisis in the US, discuss the general production and consumption opportunity cost (highest-valued alternative given up to engage in an activity) likely to have an impact on the US GDP for the coming years.

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