I think you misunderstand a little. That's not the consequence of an efficient market, that's the definition of an efficient market. ANY market where the price

I think you misunderstand a little. That's not the consequence of an efficient market, that's the definition of an efficient market. ANY market where the price of an item is higher than its marginal cost is an inefficient one. (The cost includes opportunity cost, though, so it's not like the widget factory needs to make zero accounting profit on the operation). It's quite probable, of course, that software in the general case is prone to market inefficiencies, especially in the short run: there are high fixed costs associated with producing software. Yet extant software is so stupidly easy to copy that it's unthinkable that, thousands of years hence, things like WORD PROCESSORS will have a good reason for costing money. So how long will it take to get there?