Crimson Longinus
Legend
But if dust consuming spells are common and useful enough, then dust gained as byproduct of cutting gems will not suffice. This makes the price of the dust go up, and as producing dust actually takes some labour* this will be reflected in the price.No. It would only make for equal value between a cut gem & dust made from that gem being ground up unless the unknowable far realm has a situation where it only produces gems of a certain size & quality but never lower. Gem dust is less expensive than gems because it can be made with waste from cutting raw gems & substandard gems with too many flaws to be useful as gem grade.
* Also note that current methods of cutting gems are mechanised, so producing dust is super easy as long as you have gems to cut. If you need to do this by hand, it is way more labour intensive.
I pointed iot out because you responded to a post reinforcing the fact that there is no reason to assume they should be & gave yet another reason why they would not be.
Such an equilibrium where this is the case could exist, though of course it is very unlikely. But then again, so is any specific price ratio you might choose. Also, for a person who has talked a lot about realism, I think your axioms here are wildly unrealistic given the sort of worlds we're talking about. Comparing modern gem and gem dust prices is basically meaningless. In our world gem dust is useless byproduct of mechanised process to make gems look pretty (which is basically their only use.) That is apples to capybaras when compared to world where gems and gem dust can power mighty magic, (which probably doesn't care whether the gems are cut to look pretty) and where you need to produce the dust by arduous labour intensive process.