is there an actual formula companies use to calculate what the perfect price of an object should be?
In: Economics
There’s no formula, but you generally know what the thing cost you, and you can look at competitors’ prices, and set your prices in that range.
Over time, you’ll find that you’re selling more or less than you’d like, and adjust your prices up or down accordingly. (Always being careful that you’re making enough to pay your overhead and leaving some profit. If not, you’re in the wrong business.)
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