Would music piracy drop sharply if studios charged less?

I had a heated argument with a friend of mine months ago and have been unable to stop thinking about it ever since.<p>I think that if Music studios charged less for digital downloads say 20 - 50c per song, instead of $10 for an album or 99c per song as they do now, people wouldn't feel the need to steal music.<p>My friend argued that at that price point, the music studios would lose a lot of money, because they'd kill their cash cow (CD albums) and there is no guarantee that digital music sales would double/quadruple to pick up the slack.<p>What do you guys think? PS: I also think that they need to 'age' albums the way they do in real life ... if you go on Amazon to buy an album from the 90's chances are you can pick up a used copy for $2+shipping ... but the digital download still costs $9.99 ... its just insulting.