Good point. A discussion about relative elasticity of demand and supply for college tuition, rents and eg face masks would be enlightening. Most of higher education is about signalling.

Hoarders and scalpers don't drive up the prices, they just reveal a market clearing price. Attempts to restrict market clearing mechanisms make scalpers and hoarders spring up in the first place.

In a less restricted economy, producers of masks would capture the price increases. And that would serve as a good incentive for them to keep extra capacity around.

If your ration coupons for face masks were freely tradeable, the resulting system wouldn't look that much different from letting the price of face masks themselves freely fluctuate; and giving people the right amount of money. (It would still be a bit more awkward in comparison.)