This Mises Institute excerpt from Ludwig von Mises’ Human Action analyzes various facets of prices within a market economy. It examines concepts such as goodwill, its impact on selling, and its relation to competition. The text further explores monopoly prices, distinguishing them from competitive prices and addressing the effects of monopoly of demand. Additionally, it investigates price discrimination from both the seller’s and buyer’s perspectives and discusses the interconnectedness of prices. Finally, the writing critiques the notion of nonmarket prices, asserting that genuine prices arise solely from market interactions and individual valuations, not governmental or artificial constructs.

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