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There are always two limits, what producing something costs and how much people value the thing and are therefore willing to pay for it. The actual prize must b
by danbruc 3y ago
There are always two limits, what producing something costs and how much people value the thing and are therefore willing to pay for it. The actual prize must be somewhere in that range. A thing is a success because the prize is less than what people are willing to pay but they might still be overpaying if a lack of competition does not drive the prize down towards the costs of production.