Are you suggesting that prices don't have anything to do with scarcity and are just set arbitrarily by social forces? That doesn't seem quite right.
Are you suggesting that prices don't have anything to do with scarcity and are just set arbitrarily by social forces? That doesn't seem quite right.
I don't see a reason to think true scarcity matters at all here. The hard part about generally isn't making doses 100 through infinity. The hard part is making the first dose, and to a lesser extent the next few. This is why drugs get special patent protection. That is, artificial, government-enforced scarcity.
If the product is scarce, that can drive up the price, but only as far as demand is willing to follow- there’s no inherent value in being scarce. “Price” is a social thing, so of course it’s determibed by social forces.
Purely social forces somehow came to the (in my opinion, debatable) conclusion that ladies with square faces painted by Picasso are art, while a representation of defecation by me is not.