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It relates in the sense there's a minimum cost of production without losses, not the actual price people are willing to pay.
by pixl97 6d ago
It relates in the sense there's a minimum cost of production without losses, not the actual price people are willing to pay.
- bunderbunder 6d agoFraming it in terms of the price people might be willing to pay for a single product in isolation frames the point I was making, which was about price competition, right out of the picture. Maybe I'd be willing to pay $10 for product A if I had other options. But if there's a product B for $3 that's not quite as nice but still ticks all my boxes, then product instantly becomes a lot less attractive.