Re:Australia to Ban Engineered Stone
by mitemte on Thursday December 14, 2023 @04:17AM
(#38639416)
This is probably going to cause the price of large format porcelain bench tops down. They have less silica content than artificial stone and granite. I believe they are also cut to size off-site.
[ Parent
| on HN ]
You mean up, right? Forcing demand into a product drives the price up.
Re:Australia to Ban Engineered Stone
by account42 on Thursday December 14, 2023 @05:33AM
(#38639852)
Only short-term unless the supply is static.
That’s not at all how economics works. Unless a technology breakthrough comes in that reduces cost at scale, increased demand increases price.
The only exception is if producers are already selling at essentially the marginal cost of production for the whole industry. This scenario is extremely rare, especially in base materials.
Economies of scale can happen just fine without technological breakthroughs.