A Quote by Ronald Coase

The main reason why it is profitable to establish a firm would seem to be that there is a cost of using the price mechanism. The most obvious cost of 'organizing' production through the price mechanism is that of discovering what the relevant prices are.

Ronald Coase

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Ronald Coase
British - Economist
December 29, 1910 - September 2, 2013

I said earlier [2015] year that I thought we'd get to 10 or 20 bucks [per barrel ] because that's the marginal cost, and when you're in a price war, it's the marginal cost that determines the price.It is a price war because basically the OPEC reason did not cut production in their November 2014 meeting was that they got tired of cutting production and having American frackers and Russians et cetera grab market share.

Gary Shilling

Demonstrate to your customer the difference between price and cost. The price is what it takes to purchase the item. The cost is the amount the customer eventually pays. They are not the same.

Brian Tracy

Since your time is your main involvement here - I mean, the clay doesn't cost very much. Even the glaze and the firing doesn't cost a great deal. But your time is the cost, and if you can keep your time to a minimum and still come out with the results you want, that means the pots can be sold for an economic price.

Warren MacKenzie

That we can now think of no mechanism for astrology is relevant but unconvincing. No mechanism was known, for example, for continental drift when it was proposed by Wegener. Nevertheless, we see that Wegener was right, and those who objected on the grounds of unavailable mechanism were wrong.

Carl Sagan

Gas prices and train fares seem to be the two commodities for modern British life that base their prices on a whim, or numbers plucked out of thin air, without a thought to the real cost to those for whom those price hikes mean unimaginable sacrifices in their day to day lives.

Jack Monroe

It is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy.

Michal Kalecki

We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.

Eddie George

A general flat minimum-wage law for all industry is permissible, but I do not think that it is a particularly wise method of achieving the end. I know much better methods of providing a minimum for everybody. But once you turn from laying down a general minimum for all industry to decreeing particular and different minimum for different industries, then, of course, you make the price mechanism inoperative, because it is no longer the price mechanism which will guide people between industries and trades.

Friedrich August von Hayek

We must be prepared to pay a price for freedom, for no price that is ever asked for it is half the cost of doing without it.

H. L. Mencken

Politics are, as it were, the market place and the price mechanism of all social demands - though there is no guarantee that a just price will be struck; and there is nothing spontaneous about politics- it depends on deliberate and continuous activity.

Bernard Crick

We have never considered any costs as fixed. Therefore we first reduce the price to a point where we believe more sales will result. Then we go ahead and try to make the price. We do not bother about the costs. The new price forces the cost down.

Henry Ford

Every retailer, when they price their goods, looks at their total cost overall. When they have costs go up, they'll price their products accordingly.

Dan Butler

Petrol price is a deregulated commodity, price of which is decided by our oil marketing companies based on input cost and other parameters.

Veerappa Moily

Nothing of value is free. Even the breath of life is purchased at birth only through gasping effort and pain... The best things in life are beyond money; their price is agony and sweat and devotion... and the price demanded for the most precious of all things in life is life itself--ultimate cost for perfect value

Robert A. Heinlein

Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits.

Peter Thiel

Clearly the price considered most likely by the market is the true current price: if the market judged otherwise, it would quote not this price, but another price higher or lower.

Louis Bachelier

A Quote by Ronald Coase

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