Wiggets and do-hickies

[Epidemic]

If you make a product how much should you be able to charge for it.

If I come up with a gadget which is not a necessity but it becomes popular, how much should I be able to charge for it.

Basically I have something cool (the better mousetrap) it costs me 1 dollar to produce warehouse and ship. Would it be ok for me to sell it for 1000 dollars?

[ClubMed]

You can ask any price you want, if the consumers think the price is worth it then they will buy it, otherwise...

[Epidemic]

How bout if you buy a product from another company and charge a huge markup on it (same 1 to 1000 ratio)?

[jon112981]

Two words... Free economy. You are allowed to take any service or product and charge as much as you want for it, provided it's not illegal to do so(I.E. sell drugs, copyright/patent infrigement etc.). If someone values it more than they value the money that they would spend on it they will buy it and if they value the money or some other good/service more than your product they will not buy it, well if they are smart consumers. Most goods are not nesscessary to life. As for your mousetrap, you can charge 10 billion dollars for one, but don't expect to sell very many of those. Then again, if you get one sale at that price you are pretty much set for life.

[RicheemxX]

you can charge any price you want its up to the consumer to buy it or not. As for mark-ups alot of companies set limits on that, but you can do it. I can buy a chip from amd for 100 and try to sell it for a million iof i want doesn't mean i'll get it