If you sell for $10 something that costs $1 to make, is that a 90% profit or a 900% one?
Profit = revenue - cost
So if you put in $1 and got back $2 that’s 100% profit. 1000% profit would mean you put in $1 and got back $11.
Wait why 11?
$1(Cost) - $11(Revenue) = $10(Profit)
$1(Cost) / $10(Profit) = 10 or 1000%
It’s $11 because you have to cover cost and then make 10x on top of that.
It would he 900%. The equation is: profit percentage = (profit / cost) * 100%
Let’s argue about how the estimated number that’s probably rounded up is wrong and not the fact that this price gouging should be illegal.
If you think they are charging too much perhaps you can compete with them and make a cheaper one.
Not the point of my statement. Regulations need to be set for things like this. Knowledge needs to be shared. Humanity needs to progress past competitive behavior.
Knowledge needs to be created. profit is a good motivator. removing it is harmful. you need to take a broader view and consider how the knowledge you want to be shared is createdin the first place instead of taking it for granted.
Please explain to me what view I can take to see that money and greed isn’t what’s ruining the world we live in today.
Start by not taking things for granted and try to see the world from a causal perspective. It also helps to be objective so be aware of your biases. Studying history can also provide you a broader understanding.
Is that after the R&D expenses?
