Principles of Economics, With Special Reference to American Conditions
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In our eReader you can find the full English version of the book. Read Principles of Economics, With Special Reference to American Conditions Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Principles of Economics, With Special Reference to American Conditions
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From one point of view, the more durable the commodity and the larger the number of successive uses, the greater will be the disproportion between rental and capital value ; from another point of view, the more durable the commodity and the more remote the succession of future uses, the less will the disproportion be. Both of these state- ments may be summed up in the assertion that the capital value of anything is the result of adding together the present worth of each of the successive rental... values. If the com- modity lasts long enough to furnish two equal annual rental values, the capital value will be slightly less than twice the first rental value ; if we may expect three rental values, the capital value will be somewhat less than three times the first rental value. Each increment which goes to form the capital value decreases, until finally there is no further increment at all.
88. The Law of Diminishing Returns.
We have thus far dealt with consumers' goods — that is, articles of immediate consumption — and have seen that their value is derived from the uses or enjoyments which they afford.
What to read after Principles of Economics, With Special Reference to American Conditions?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Robert Anderson Seligman to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
From one point of view, the more durable the commodity and the larger the number of successive uses, the greater will be the disproportion between rental and capital value ; from another point of view, the more durable the commodity and the more remote the succession of future uses, the less will the disproportion be. Both of these state- ments may be summed up in the assertion that the capital value of anything is the result of adding together the present worth of each of the successive rental... values. If the com- modity lasts long enough to furnish two equal annual rental values, the capital value will be slightly less than twice the first rental value ; if we may expect three rental values, the capital value will be somewhat less than three times the first rental value. Each increment which goes to form the capital value decreases, until finally there is no further increment at all.
88. The Law of Diminishing Returns.
We have thus far dealt with consumers' goods — that is, articles of immediate consumption — and have seen that their value is derived from the uses or enjoyments which they afford.
What to read after Principles of Economics, With Special Reference to American Conditions?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Robert Anderson Seligman to read onlineMoreLess
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