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| Both this thread and the one below contain statements that things are so much different for those businesses who can set a price versus those sectors who cannot. Being a price-setter gives an illusion of more control over one's business, but that is about all. If one sets a price that is too high, customers go elsewhere or invent alternatives or do without. If one prices too low, you put yourself out of business. On the plus side, you get to spend a great deal of time trying to figure out where to set your prices! :)
The bankruptcy courts have dockets full of businesses who were price-setters, not price-takers. Obviously, being able to set a price isn't the road to guaranteed windfall profits. | |
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