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Old 05-20-2011, 09:25 AM   #63
Giggleton
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Posts: 1,687
Karma: 4368191
Join Date: Jan 2011
Location: Oregon
Device: Kindle3
Quote:
Originally Posted by fjtorres View Post
basic economic theory tells us that as real price approaches zero, supply of new product also tends to zero. It is just as delusional to expect authors to work for free as it is to think consumers will pay *any* price for a book. Price elasticity has its limits both ways. Product pricing is an art more than a science but its goal is to maximize profit, not volume; lower prices are a means, not an end.
Maybe we need a more advanced economic theory, one where people pay what they can for their ebooks?
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