Title: Marginal Costs in Relation to Values. General Principles
Abstract: This Chapter and the three following are given to a study of the marginal costs of products in relation to the values of those products on the one hand, and on the other hand to the values of the land, machinery, and other appliances used in making them. The study relates to normal conditions and long period results. This fact must ever be borne in mind. The market value of anything may be much above or much below the normal cost of production: and the marginal costs of a particular producer at any time may stand in no close relation to marginal costs under normal conditions.1
Publication Year: 2013
Publication Date: 2013-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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