is there an actual formula companies use to calculate what the perfect price of an object should be?
In: Economics
The most basic analysis would look something like this:
If you have a warehouse full of widgets because they’re selling much slower than you produce them, then you should probably lower the price of a widget.
If you’re constantly sold out of widgets and have a bunch of customers on a waiting list for them to come available, then you could probably raise your prices.
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