This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ... CHAPTER III NORMAL COMPETITIVE PRICE 1. The market price of the most important commodities is subject to frequent fluctuations. Since prices depend upon the valuations of the marginal buyers and sellers, or, what amounts to the same thing, upon demand and supply -- factors that are constantly changing ...
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ... CHAPTER III NORMAL COMPETITIVE PRICE 1. The market price of the most important commodities is subject to frequent fluctuations. Since prices depend upon the valuations of the marginal buyers and sellers, or, what amounts to the same thing, upon demand and supply -- factors that are constantly changing--we should naturally expect prices to fluctuate. That they do fluctuate is easily proved, either by our daily experience in buying and selling, or by an examination of price statistics. In the period from 1915 to 1921 the average annual price of wheat rose from $1.08 per bushel in 1915 to $2.32 in 1920 and declined to $1.49 in 1921. Corn rose from 66 cents in 1915 to $1.45 in 1919 and declined to 67 cents in 1921. Cotton rose from 6.6 cents in 1915 to 35.9 cents in 1920 and declined to 11.5 cents in 1921. The war and its consequences had much to do with these remarkable price fluctuations. But even in time of peace agricultural prices vary greatly from year to year, from month to month, and even from day to day. We are, indeed, familiar with a large class of commodities the price of which never varies. Postage stamps are always sold at uniform prices. Many patented articles, especially goods for personal use, and most copyrighted books, are sold at unvarying prices. For long periods steel rails are quoted at unvarying figures. The explanation of such steadiness in price is always the same -- monopoly, in one form or another. Where there is but one seller, and that seller resolutely refuses to change his prices, there can, of course, be no price fluctuations. 'We shall postpone discussion of monopoly prices to the following chapter; in the present we are concerned with the laws governing prices in the competitive field. 2. The prices of...
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Seller's Description:
Very Good. Hardcover. Facsimile Reprint of the 1922 Edition. xiv, 476pp+ index. Very good hardback bound in publisher's green cloth and issued without a jacket.
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Seller's Description:
This is an ex-library book and may have the usual library/used-book markings inside. This book has hardback covers. In fair condition, suitable as a study copy. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 700grams, ISBN:
