3 ms·
You're right, the marginal cost argument is wrong, and yet there is something different going on here and I think I know what it is: The fundamental change here
by czr80 14y ago
You're right, the marginal cost argument is wrong, and yet there is something different going on here and I think I know what it is: The fundamental change here is that customers own the means of reproducing the product and reproduction costs are equal to the marginal cost. How much could Apple sell an iPhone for if the same was true? What would Apple do to remain in business?
- msellout 14y agoI think that's worth repeating: "the ownership of the means of production has changed". Intentionally rephrased to allude to a certain economist.