Discrimination in rate making commonly based on three principles. — Rates should conform to long-period normal values, 43. — Composite demand or joint supply are involved, 44. — The case of composite demand explained; overhead should be apportioned equally to all classes of service, 46. — The case of joint supply explained; overhead should be apportioned according to demand, 53. — How this principle can be applied in practice, 60.

The historical development of the theory of costs has been away from the disutility analysis of the classicists. — The view that costs are payments for the means of production, arising out of the resistances which they occasion, and set in a competitive price-bidding process, 36. — These resistances resolved into eight scarcity-factors, which are the fundamental elements of costs, 41. — The analysis applied to costs encountered in business enterprise: wages, interest, rents, depreciation, insurance, taxes, and profits. — All can be broken down into the eight elements named 47. — The introduction of monopoly profits into the prices of materials necessitates a distinction between competitive and restrictive costs, 59. — This analysis of costs suggests that an approach to the theory of distribution along similar lines would be fruitful, 62.

Journal Article Recent Texts on the Principles of Economics and the New Economics: Fairchild, Bye, Edie, Boucke, Tugwell Get access F. B. Garver F. B. Garver University of Minnesota Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 41, Issue 1, November 1926, Pages 146–163, https://doi.org/10.2307/1885556 Published: 01 November 1926