Die Textilindustrie sämtlicher Staaten

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Monograph

Identifikator:: 1031019537

URN:: urn:nbn:de:zbw-retromon-60551

Document type:: Monograph

Author:: Kertész, Adolf http://d-nb.info/gnd/1013269713

Title:: Die Textilindustrie sämtlicher Staaten

Edition:: Zweite Auflage der "Textilindustrie Deutschlands im Welthandel"

Place of publication:: Braunschweig

Publisher:: Druck und Verlag von Fried. Vieweg & Sohn

Year of publication:: 1917

Scope:: 1 Online-Ressource (XXVI, 741 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: A. Die Textilindustrie der europäischen Staaten

Collection:: Economics Books

64 POLITICAL ECONOMY the cost of production of one firm will be identi cal with that of another, because all employers do not possess the same ability and applica tion, workmen are not indistinguishable from one another in respect of capacity, and there are differences as regards productive value between the several units of other agents in production. The business which has the misfortune to function with the highest cost of production is known, as we have seen, as the marginal business, or business of marginal quality. With a view to trimming the ragged edges of our ideas, let us take a particular case. Let us imagine an industry engaged in the manu facture of some kind of braid. Let there be four firms, A, B, C, D, and let their costs of production per yard of braid be 6d., 7d., 6&d., and 6|d. respectively. Then B is called the marginal firm because it has the highest cost of production, namely, 7d. Let us imagine that the output of the four firms taken together is 100,000 yards of braid per year Then, if 100,000 yards are to be sold, the price must be at least 7d., because, if it were not, it would not pay the firm B to produce. In its cost of production of 7d. we have in cluded adequate remuneration for all the factors in production, including the employer.

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