United States or Suriname ? Vote for the TOP Country of the Week !
Varian evaluates the contribution of each of these practices to economic efficiency in a 1996 article published in "First Monday": "First-degree price discrimination yields a fully efficient outcome, in the sense of maximizing consumer plus producer surplus.
Thus, also, if the consumer is interested in the admission of light, we, the producers, pray for its interdiction. "You have also said the producer and the consumer are one. If the manufacturer gains by protection, he will cause the agriculturist to gain also; if agriculture prospers, it opens a market for manufactured goods.
His heart was set on making a better tool at less expense to the consumer, than the world had ever seen. Thus would he lessen labor and increase production. So besides great talent he had a unique simplicity, which often supplied smiles for his friends.
About 100,000 barrels of flour were returned by individuals and companies during the spring of 1918, to be shipped to the Allies and the Army and Navy. The individual all over the country, consumer, dealer, miller, or farmer, has risen to the occasion to do his share toward the fulfilment of the Government's promise to Europe.
As the datum point of determining prices is at the wholesaler, the accretion by the charges for distribution from that point forward to the consumer's door will not affect the farmer, but will affect the consumer. When competition decreases through shortage the consumer pays the added profits of these trades.
The above contrast between cases in which variation is possible, and those in which it is not possible, is reproduced with a heightened significance when we turn back to joint demand. Cases of this sort are especially likely to occur when we are dealing with a commodity which accounts for only a tiny fraction of the costs of the industry which is its chief consumer.
The consumer in the most inland State derives the same advantage from every necessary and prudent expenditure for the facility and security of our foreign commerce and navigation that he does who resides in a maritime State. Local expenditures have not of themselves a corresponding operation. From a bill making direct appropriations for such objects I should not have withheld my assent.
Fourth: That increase or decrease in the cost of distributing food from the wholesaler to the door of the ultimate consumer is a deduction or addition predominantly to the consumer's cost; that is, the margin between the wholesaler and consumer in its increases or decreases is largely an addition or subtraction from the consumer's price.
Taxes upon such consumable goods as are articles of luxury, are all finally paid by the consumer, and generally in a manner that is very convenient for him. He pays them by little and little, as he has occasion to buy the goods. As he is at liberty too, either to buy or not to buy, as he pleases, it must be his own fault if he ever suffers any considerable inconveniency from such taxes.
It is a difference in the traditions of propriety with respect to the kinds of things which may, without derogation to the consumer, be consumed under the head of objects of taste and art. With a certain allowance for variations to be accounted for on other grounds, these traditions are determined, more or less rigidly, by the pecuniary plane of life of the class.
Word Of The Day