This paper puts the role of product quality in the market game of supply and demand into the center of the analysis. To that purpose it provides a systematic investigation of market diagrams with quality instead of price on the ordinate. This new focus allows interesting conclusions by simple...

Satiation means that the marginal utility of income decreases. One might infer from this that satiation should imply a shorte r labor time of the relative rich. This paper shows that such a concl usion is false. To the contrary and, at first sight, paradoxically, i t is rather to be expected...