Setting Prices on Photos

Started 2 months ago | Discussions thread
Michael Fryd
Michael Fryd Forum Pro • Posts: 11,764
Re: Economics 101

Bob wrote:

You can certainly calculate your break-even costs plus some profit, but obviously this assumes people are buying the photos. It's the classic supply-demand mechanism.

Also, breaking even one one photo does not factor in breaking even on your entire collection.

It's not quite the classic scenario.  Under the classic scenario raising prices decreases demand.  In the real world, raising prices can sometimes increase demand by increasing the perceived value of the product.

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