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>Cost has absolutely no influence on how much the customer is willing to pay. Giffen goods are an example of where that isn't true. I have personally experienc
by tuesdayrain 6y ago
>Cost has absolutely no influence on how much the customer is willing to pay.
Giffen goods are an example of where that isn't true. I have personally experienced it myself when I became more tempted to buy BTC as the price started rising.
- koonsolo 6y agoIt still has nothing to do with cost though. The only things influencing price is always the product and the consumer. How much it cost to make the product has nothing to do with that price, even for giffen goods.
- tuesdayrain 6y agoYou're right, I had an incorrect definition of "cost".