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| Re: Luxembourg Becomes First Country to Make All Public Transit Free (1516496) | |||
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Re: Luxembourg Becomes First Country to Make All Public Transit Free |
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Posted by Andrew Saucci on Sat Jun 22 07:11:29 2019, in response to Re: Luxembourg Becomes First Country to Make All Public Transit Free, posted by MainR3664 on Fri Jun 21 09:57:08 2019. Similarly, business owners are frequently reminded that pricing has nothing to do with how much a product or service costs to provide-- it's about perceived value. If something has a value of $100 to a buyer, I don't have to sell it for $1 because it cost me 50 cents to produce even though that gives me a 100% markup-- and if it cost me $200 to produce I'm not going to sell any even at $150 despite taking a 25% loss on each sale. Most important, often perceived value is derived in part from the price. Sellers often make money by creating a perception of value by overpricing things somewhat. If the subway system were free, people would treat it as such and value it accordingly. |
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