Abstract:The article clearly proves that pricing aiming to maximize profits is to give way to pricing based on the cost minimization. This principle promotes the progressive development of the economy and the society as a whole, as is aimed at the modernization and optimization of production on the one hand, and improvement of the population’s welfare and hence its purchasing power – on the other.
Keywords:cost minimizing, democratic market price, democratic model of economy, monopolization of economy, normal profit, optimal price
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