Note 150-6 — Chapter II

Ricardo had, in every case in which outlay of capital and labor of different degrees of productiveness had to be used on the same land, to suppose a price of the products = the cost of the least productive outlay. See the tables in Ricardo's work, On the Influence of a low Price of Corn on the Profits of Stock, 1815, 14 seq. Schmoller, on the other hand, rightly applies the principle of united costs of production in as far as the usual amount of profit of the producer is added to the cost of the commodity with the highest cost of production. Mittheilungen des Landwirthsch. Instituts zu Halle, 1865, 128. Compare supra, §§ 106, 110.