this post was submitted on 04 Aug 2025
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Only insomuch as setting a price floor, but not a ceiling
I might be severely misunderstanding you. Are you saying that the cost of production is not a concern when the government is deciding the maximum allowable price of a good or service?
Ah, sorry, thought we were talking about business setting prices, not government intervention
Correct. What did you mean by setting a price floor?
Well, outside extreme circumstances, the manufacturer isn't likely to sell below their own cost; hence the manufacturing cost is a price floor
That's "at cost", not a price floor.
I still think that would be a de facto price floor, as opposed to the de jure definition you're referencing.