54 



Irving Fisher — Mathematical investigations 



§11 



For production the treatment is precisely parallel to the foregoing 

 (figs. 12, 13). 



12. 



CHAPTER V. 

 PRODUCTION AND CONSUMPTION COMBINED. 



§1- 

 Hitherto it has been assumed that the quantities of commodities 

 and 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." 



*Pol. Econ., Ch. IV, p. 165. 



