ABSTRACT
Assume single factor production. Comp.
Start single labourer.
Increase hours. Increase income.
Now group. Depends on elasticity of demand for product.
Note certainly a fall in rate (price).
But only reduction income if elasticity less than 1.
This quite possible. Industrial. Geographical.
Reflections on incentive suggested by this.
Reflections on mobility.
The requirements of progress.
