Past expenses incurred during the production of a good are completely irrelevant to the determination of the current price of a good. The market price of a good is determined solely by the relative valuations of goods and money by the buyers and sellers of the good. FULL ARTICLE by Joseph T. Salerno
Source link: http://archive.mises.org/14960/whats-cost-got-to-do-with-it/
What’s Cost Got to Do with It?
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