> This is how you know most economic theory is a total lie, if it wasn't they would just "price what people are willing to pay" and be forced to eat the loss .

> This is how you know most economic theory is a total lie, if it wasn't they would just "price what people are willing to pay" and be forced to eat the loss ... Wait, why on earth would businesses do that? "Yeah, we're in the business of buying X for a dollar and selling it for 90 cents". What economic theory are you referring to that makes that in any way plausible? When input prices go up, output prices go up, and usually consumption falls.