is there an actual formula companies use to calculate what the perfect price of an object should be?
In: Economics
Noone knows “the perfect price” its a concept or ideal not something that realy exists. Both supply and demand depend on local factors too.
The whole supply and demand thing is used to get an average price under many different sellers.
You as an individual vendor just set a price that you can make money with(aka dont sell at a loss). If its lower than that of others you will get more customers untill others lower their prices. By adjusting these prices over and over again you get closer to this ideal price.
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