On Dec 23, 8:37*pm, Daniel Prince wrote:
"Walter R." wrote:
The selling price of a product is essentially unrelated to the cost of the
product. All selling prices are set by the free market system, by the law of
supply and demand, by what a buyer is willing to pay for it.

I think that is true only in the short term. *If paint thinner could
be sold for $4.00 a gallon at a reasonable profit and the law of
supply and demand made it sell for $8.00 a gallon, new companies
would start making it and the companies that already make it would
make more because they could make big profits on it. *Soon the
supply would increase until the price was around $4.00 a gallon.

First off, define "reasonable profit".

How is what you're saying any different from Walter? As he stated,
the price is determined by supply and demand. If the supply increases
in your example without any more demand, the price will go down, as
you noted. None of that has anything to do with the cost to make the
product.