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Societies for the History of Economics

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Societies for the History of Economics <[log in to unmask]>
Date:
Thu, 3 Feb 2011 14:40:57 +0000
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Societies for the History of Economics <[log in to unmask]>
Subject:
Re: The reversed axes of supply and demand
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From:
Tony Brewer <[log in to unmask]>
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This discussion seems to take it for granted that price is the independent 
variable and quantity the dependent. But they are simultaneously determined 
- neither is independent (in general). It used to be common (early C20?) to 
refer to 'supply price', and 'demand price', implicitly taking quantity as 
the independent variable.
Tony Brewer
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