54
Irving Fisher—Mathematical investigations
§H
For production the treatment is precisely parallel to the foregoing(figs. 12, 13).
13.
CHAPTER Y.
PRODUCTION AND CONSUMPTION COMBINED.
Hitherto it has been assumed that the quantities of commoditiesand incomes (or expenditures) have been given. But these quanti-ties have themselves been determined by economic causes. Jevons*arranges the sequence as follows:
“ Cost of production determines supply,
Supply determines final degree of utility,
Final degree of utility determines value.”