Outline and Summary of Price Theory: To Supplement and Amend Ely, Outlines of Economics

Abstract

The subject for study at present is the manner in which the prices of consumption goods and services are fixed under competition. The theory of price under monopoly is treated as a separate topic (Ely, Chapter XIII); and the theory of the prices of productive goods, that is, the theory of wages, rent, and interest, which are the prices of labor and the use of land and capital, are also treated separately under the head of Distribution. (See Ely, pp. 177–178, and Chapters XX–XXVII.)

Citation

Emmett, R.B. (2011), "Outline and Summary of Price Theory: To Supplement and Amend Ely, Outlines of Economics", Emmett, R.B. (Ed.) Frank H. Knight in Iowa City, 1919–1928 (Research in the History of Economic Thought and Methodology, Vol. 29 Part 2), Emerald Group Publishing Limited, Leeds, pp. 393-407. https://doi.org/10.1108/S0743-4154(2011)000029B049