Monopoly Pricing on iTunes

November 20, 2005 at 9:07 pm | Posted in General | Leave a comment

Lately, there have been news reports of the RIAA cartel pressuring Apple to raise iTunes prices, saying that the laws of supply and demand should determine prices. Joel Spolsky’s essay clearly shows that the RIAA is lying as usual. In a monopoly or collusive oligopoly like that of the RIAA and MPAA, price is not determined by supply and demand; price is a market signal set only by the suppliers.

On a side note, I’ve been perusing the TV shows available on iTunes (all five of them). Episode descriptions are quite long, but Apple has provided an “Info (i)” button to show the text in a popup.

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