Posted by John Nichols on June 04, 2021 at 09:49:58 user Mcneacail.
In Reply to: Re: Pencils! posted by Mike Field on June 03, 2021 at 16:14:09:
When you have a small market and you produce the only or one of the only brands and it is used by a select artist crowd you do a cost analysis to set the price to maximize your return, I am sure they did it by trial and error.
We see this in the excellent Sherlock movie with Basil and the three music boxes, the young lady buys the doll at auction and says we can get three times the value in the shop.
We studied this for a few years, 3 is the magic number if someone wants something slightly different or if there is a range.
The recent disastrous electricity buying in Texas demonstrates the issue of lack of controls, if you set up a market it helps to understand basic market theory.
Plus if I buy with a computer program and I do it well then the buy time on the computer to 1 second is the same as 1 second to 31 years for a human.
There is a 1950s movie set in Norfolk all sailing and the RAF, in a dispute, it has the Island of the Children as a location, it is on TUBI, I cannot find it again, they have lousy search -- does anyone know it.
Example is PP and Dick buying the blowpipe.
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