Apples to Oranges still, what investors are the black market growers trying to satisfy, the HA's, the black market only has to satisfy the risk/reward criteria of a single individual. Do you think that the store fronts are not paying a heavy premium for loaned money in Colorado? Ever had to go to a mortgage broker (legal loan shark) instead of the bank?
Production levels, that will drop the retail price, coming from the black market? That is funny, the black market has never been able to affect retail price it has been 10$/g since the 1960's.
Only law enforcement and quality has ever affected the price, there has never been enough marihuana, until very recently, and take note, that it was a grey market (MMAR) that was the driving force and then only lowered wholesale prices still not the retail. It will be the white (production) market that will lower the retail price. Basic economics 101.
Black market-production is an oxymoron, the bigger you are the more likely the law will get you and or that you are paying a corruption fee to stay in business. It is so simple, a free market will bring a fair price through competition, it is the government you should be watching, they are the reason a case of beer is $20 instead of $10.
Now it is medical, but soon it will be recreational and highly taxable, how greedy will they be, I'm guessing that 100% like alcohol is likely then.
Better hope that the white medical market is ready to step up when recreational use finally comes. It will be white market production only, that can over come the new taxes and high production costs, actually lowering the retail recreation price to under 10 bucks a gram, the black market yah right.
The black market couldn't even lower it when it would wholesale for $1000 a pound here. I should state that the local CC is selling for under 10/g, but from my research is the only one, naturally he is located in the heart of marihuana growing. There is the power of the grey market in action.
One day soon we can compare prices, easily doing the math on the exchange rate between American and Canadian money, but only when both Federal governments allow recreational, and the provinces and states allow it too. Then we can look at numbers before taxes, maybe, there is no fair comparisons that mean anything right now.
I am just not seeing your greedy people, but am seeing a bunch of reasons for their high prices, greed is not even on the radar.