The common perception is that businesses set prices at a level that always earns them profits. However, as Carl Menger first pointed out in 1871, the process of determining value and setting prices is different than what is commonly believed.
The common perception is that businesses set prices at a level that always earns them profits. However, as Carl Menger first pointed out in 1871, the process of determining value and setting prices is different than what is commonly believed.