The Theory of Wages

action actually adjustment advantage amount appears arise assume become capital cause chapter competition concerned consequently considerable continue contraction cost course curve demand for labour depends determination difficulty diminish direct easily economic effect efficiency elasticity employed employer employment equal equilibrium expected extent fact factors fall favourable firms follow force further future give given greater higher important income increase industry interest invention kind labour market least less limits lower maintain marginal product matter means ment methods naturally offer once output paid particular period position possible present probably problem profits progress proportion question raise reason reduced relative relative share remain resistance result returns rise seems strike substitution supply supply of labour suppose theory things tion Trade Union true wages whole workmen