noob question, economics
How is it possible for a company that manufactures a commodity in a competitive market to make a profit?
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noob question, economics
@wolf480pl As far as I understand: Economies of Scale, market inefficiency (perfect markets don't exist) regulatory capture (which is really another name for market inefficiency) law breaking (another name for market inefficiency) and maybe trade secretes that let them manufacture more efficiently (stirring something in a certain pattern makes it cure faster etc.)
