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stefan_kendall on Jan 20, 2014 | parent | context | favorite | on: Why Does A Good Kettle Cost $90+?

Why does an "X" cost "$Y+"?

Because that's the price the market will bear for X. Cost has nothing to do with it. If I could sell you a kettle for $100,000 that cost me $100 to build, I would absolutely do it.

thatthatis on Jan 20, 2014 [–]

He implicitly assumes (and I think correctly so) an efficient competitive market with zero economic profits.

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