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The way supply and demand works is the thing that forces companies to give up profit is a competing company willing to take a little less profit (and hence undercut prices).
It doesn’t work if there’s no competition, or insufficient competition.
So in other words, it doesnt work in the real world
It does work in the real world. That’s why food doesn’t cost a billion dollars a meal.
That being said, the forced business closures we had a couple years ago definitely consolidated markets, reducing competition and driving prices way up.
Sounds like there is a space for a competitor if anyone with enough capital wants to invest. It's one industry, Michael. How much could it cost, ten million dollars?
That's pretty much it in a nutshell. Anyone with the hundreds of billions of dollars necessary to compete in that space is already there, and doing layoffs.