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Pastimes : Austrian Economics, a lens on everyday reality
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To: Wildstar who wrote (324)11/30/2003 5:25:16 PM
From: Don Lloyd   of 445
 
Wildstar,

[[[[Since the price of the NFOP is set by other buyers, the only real bargaining power the monopoly consumer good supplier has is in the buying of the SFOP.]]]]

[I think that the emphasis is backwards here. There is no need to bargain for a NFOP because it generally already has a lower price than it needs to have. The alternate uses of the NFOP will usually provide it at a bargain price.]

What is the backwardness? That the relatively low price of the NFOP already exists, and does not need to be bargained for by the monopoly supplier?

Yes, the word 'only' sounds significant, but it's not.

Regards, Don
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