Economic essays

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Monograph

Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Elasticity of supply as a determinant of distribution / Paul H. Douglas

Collection:: Economics Books

102 ECONOMIC ESSAYS IN HONOR OF JOHN BATES CLARK in bargaining power whether secured through voluntary or state action, as a leftward movement of the supply curve of the factor. It would probably not be characterized by a uni- form elasticity through- out its course but for the purpose of simplifying our analysis, we shall as- sume that there is such a uniformity. This, how- ever, is not nearly so im- portant relatively as the fact that the elasticity is on the whole less than before. And this is the point which should be stressed and the effects of which will be traced. B. The Effects of Changes in Bargaining Power. We may now proceed to examine what would be the effects of increase in bargaining power under different sets of elasticities of supply and we may use for the first case, that of com- plete inelasticity of sup- ply of both factors. We may represent in Figure 17 the line AS as char- acterizing the original supply curves for both X and Y. But with the im- provement in the bar- gaining power of X, the supply “curve” of that factor, while continuing to be inelastic, moves to the left to the point B. At various prices equal amounts of X will be offered but they will in each instance be less than what was offered before. The ratio ————————

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