Shrum in econ 101 I don't remember drawing supply demand and cost lines. Just supply and demand. Costs dictate profitability, that's it. The difference between costs and the market value is the markup. If costs are higher than the market value you'll go out of business. If costs are dramatically smaller than market value you will make excellent profit like the above companies. This results in wealth condensation and firm condensation (less firms = less competition = less supply and higher market value) so taxes are necessary to counteract these basic tenants of macroeconomics.

If there is a difference in entry costs in Australia and the U.S. for a technology that can be applied anywhere, the difference arises from governments, not the markets. So what's the difference?

Supply curve is marginal cost.