Modern monetary systems

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Monograph

Identifikator:: 897232399

URN:: urn:nbn:de:zbw-retromon-12062

Document type:: Monograph

Author:: Krag, Wilhelm http://d-nb.info/gnd/11637523X

Title:: Die Paumgartner von Nürnberg und Augsburg

Place of publication:: München

Publisher:: Verlag von Duncker & Humblot

Year of publication:: 1919

Scope:: 1 Online-Ressource (VIII, 135 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: II. Die Paumgartner von Augsburg

Collection:: Economics Books

74 POLITICAL ECONOMY price only at which as much, or as little, as is wanted will be produced. But when decreas ing returns rules for the larger output a higher price must be paid, and when increasing returns rules the larger output brings such economies that the supply price falls. Supply prices in conjunction with demand prices settle the market prices of reproducible things. And they also settle the prices of non- reproducible things, but in this latter case “supply prices” have no reference to cost of production. They must be taken to mean merely the prices at which owners will part with different quantities of the non-repro ducible things in question in their possession. Let us put the relations between demand prices and supply prices in a table relating to some industry or other. Output in Demand Supply tons. price. price. In this case, to which decreasing returns has been supposed to apply, price would be 16s. 6d., 1,000 1,100 1,200 1,300 1,400 1,500 17/6 17/- 16/8 16/6 16/4 16/- 16/2 16/3 16/5 16/6 16/7 16/9

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