BPI going to start suing UK music downloaders. Watch

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TheWolf
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#61
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#61
(Original post by *reasoning*)
The competition is substantial enough to force firms to monitor and adjust the price level of the goods they sell, dependant on the current consumer demand.

I wouldn't say the music industry is common ground for perfect competition, hence the model isn't to perfection for the given market either. However, it does illustrate the basic dilemma that firms do face.
you dont need perfect competition for supply and demand to work

with music: its difficult to analyse because its difficult to say whether mp3 and cds are subsititutes, and this leads to different interpretations of elasticities of demands. i think that for most people (not for me though) cds and mp3s are substitutes And do you think that mp3 from p2p programs is classified as a 'good' when there isnt really a seller, and it is really a free good for the consumer. You sending your mate music for free doesnt have a seller and a buyer does it
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SasunD
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#62
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I heard shakira's first single on tv. really loved it. downloaded an mp3 and the video, and couldn't wait till the album came out. i bought the album from america.

i downloaded about 3 of bond's songs and then got the album for christmas.

i bought the K-PAX film album after having downloaded about 3 songs.

so, it was a positive effect on the market, as i might not have been sure about buying the albums and might not have bought them if i didn't downloaded the songe beforehand.

i like the little booklets you get in albums, good booklets, not crap ones that just thank everyone and thats it.

also, they have been producing really shiet music lately, so its not our fault that we don't want to buy unbelievable bullcrap, masquerading as music.
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TheWolf
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#63
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now that most of the pop music is so s*** at the moment, makes the product incredibly demand inelastic i.e noones want to buy it even if the price drops alot. So even if lets say a bunch of people get sued for downloading music illegally, this does 0 good to the record companies because 1. mostof the other people will carry on downloading music anyways, or find other 'safe ways' to download music free (this is just like banning cigarette in the uk will bring bigger black market) 2. the quality of music at the moment is so **** that hardly anyone will buy an album because now they know they will be sued. The thing is, once people has adopted the life of downloading the music for free, you cant go back to paying the full price of cds. Therefore, i think that in the long term, the music industry should know that the demand is too little, so they need to improve the quality of music and drive down the price of music albums
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Nima
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#64
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(Original post by TheWolf)
you dont need perfect competition for supply and demand to work
I agree, the basic principle still applies - although the perfection of that principle is apparent with perfect competition of course.

BTW: Whether it is a good/service is pretty much irrelevant - Obviously downloaded MPs's off the internet is the use of a service. It isn't tangible. Although this isn't important in regards to the bearing this has on points constructed in the last few pages.
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