Political economy

Bibliographic data

Monograph

Identifikator:: 83532351X

URN:: urn:nbn:de:zbw-retromon-26252

Document type:: Monograph

Author:: Gebhard, Hermann

Title:: Die nach dem Invaliditäts- und Altersversicherungsgesetze versicherten Personen

Place of publication:: Berlin

Publisher:: Heymann

Year of publication:: 1893

Scope:: 1 Online-Ressource (X, 328 S.)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

170 POLITICAL ECONOMY the works and the material used, or, if it is a case of farming, the quantity of land embraced by the farm. Imagine that an employer has a business which can be repre sented by 100 L. -f 200 C. -f 50 M. Imagine moreover that the product is worth £500 a week, and that the following combinations produce the amounts stated :— Agenta in production. Product per Increase week. of product. 100 L.-f 200 C.-f 50 M. £500 101 L.-f 200 C.-f 50 M. £502 3s. £2 3s. 102 L. + 200 C.-f 50 M. £504 4s. £2 Is. 103 L.-f 200 C.-f 50 M. £506 4s. £2 0s. 104 L.-f 200 C.-f 50 M. £508 2s. £l 18s. Then the employer would try to increase his labour to 102 men at least, and would not increase it to more than 103, if wages were £2 a week, because up to 102 the gain in product exceeds the wage of the extra man, but beyond 103 it is less than the wage of the extra man ; and obviously the employer would act similarly with reference to capital and other agents in production, considering what would be the effects on his net takings of increasing or reducing each of them. Finally he would reach an arrangement of such a kind that the marginal worth of each class of factors in his

Access restriction

Copyright

Full text: Political economy

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation