Sentence Examples:
The marginal land will be land which yields a decent profit to a decent farmer, as well as a gross rent to the landowner, sufficient to compensate him for his capital outlay, but nothing further.
Clearly it will not be the marginal land of which we spoke above, which it only just paid to cultivate, and which yielded no rent at all.
For we could regard the marginal producer as the one working on a marginal farm, whereas we have seen there is no pure rent.
The rent which other producers have to pay would thus represent merely the destination of the surplus profits which arise wherever actual costs fall short of marginal costs.
Our conclusion must be the negative one that we have insufficient evidence to warrant the assertion that the particular rate of interest which happens to prevail is a measure of the sacrifice involved in saving, even in the case of what we might regard as the "marginal saving."
To dispose of this difficulty by arguing that rent does not enter into marginal costs (in any sense which is not equally true of wages and profits) is to lose contact with reality.
This shows that money values may be a most imperfect measure of aggregate wealth; for what money values represent is the product of the quantity of the commodity and its marginal utility, while aggregate wealth is total utility, which is a very different thing.
When he condemns the extravagance of Government departments, it is their lack of just this marginal sense that he chiefly has in mind.
The price, then, of a commodity tends roughly to equal its marginal cost of production; and this marginal cost (in perfect symmetry with what we observed as regards marginal utility), may be conceived as applying either to the marginal producer or to the marginal output of any producer.
For, as economic theory has shown, it is the cost of the marginal concern, i.e. the concern managed by the most incompetent, and half-witted fellow in the trade; it is the cost incurred by him, together with a profit on his capital, that the price has got to cover.
The marginal concern, in other words, must be conceived as that working under the least advantageous conditions in respect of the assistance it derives from the strictly limited resources of nature, but under average conditions as regards managerial capacity and human qualities in general.
For, while it is impossible to separate out the total utility and cost of wool, it is not impossible to disentangle its marginal utility and its marginal cost.
What, then, is likely to be the value and the rent of this marginal land, this land which is just on the "margin of cultivation"?
The reader may protest that in the course of an extensive and varied acquaintance with landowners, he has not yet run across this peculiar marginal type, who lets his land for no rent at all.
Theobald rightly saw that "within a parenthesis" was a marginal note, mistaken for a part of the text when the book was sent to press.
These marginal objects are in the mind even when you conscientiously focus your mind upon the history lesson, and, though vague, they try to force their way into the focus and become clear.
Of this I have freely availed myself, and have distinguished the direct quotations by inverted commas, but without repeating the references in marginal notes.
All along the side of the cliff, as far as could be seen in both directions, the ice did not touch it, but there was this marginal crevasse seven feet wide and of unknown depth.
The marginal crevasses were mostly narrow, while the few wider ones were easily avoided by passing around them, and the clouds began to open here and there.
The underside differs in having the marginal series of white points continued to the very tip of the upper wings, while they have three other points in the disc.
It is the inexperienced child who passes with simplicity through the marginal country; and the thing he meets there is principally the yet further conception of illimitable time.
In addition to the regular business of the Convention, there were discussions of a high order on such matters as Amendments to the Constitution, the enactment of New Canons, Admission of New Dioceses, Marriage and Divorce, and Marginal Readings in the Bible.
This latter was, doubtless, cousin to him who deliberately cut down all his books close to the text, because he had been several times annoyed by readers who made marginal notes.
Marginal inscriptions in English and German decorate many of the old plates, from which may be learned many interesting facts concerning the life and habits of the early settlers.
Another advantage of this marginal belt is that it will prevent fires spreading from the grasslands, and that by planting thorny climbing plants on its outer edge a good fence may be formed.
We find curious proof of the sympathies which might have prejudiced his wife's cause, in the marginal notes appended to her depositions, and which repeatedly introduce them as lies.
The limitation of every enclosed or marginal sea lies in its small area and in the relatively restricted circle of its bordering lands.
The document begins with the usual strain of complimentary address to great personages, "Their Highnesses hold it for good service" is the marginal remark.
The marginal cone was cut nearly in half vertically, the new cliff falling precipitously toward the center of the crater.
We may restate the situation in more mundane terms: the reduction of average taxes was sold on the political market as a reduction of marginal rates.
The words 'I, the heir,' immediately make an electric connection with the marginal thought of the will; that, in turn, makes my heart beat with anticipation of my possible legacy, so that I throw down the book and pace the floor excitedly with visions of my future fortune pouring through my mind.
I had hoped to find marginal notes or references which might have thrown light on the authorities of some passages in the Wealth of Nations (for Smith gives no references), but even the ingenious oft-quoted author of the Tracts on the Corn Laws has escaped without a mark.
For if an author let his wit run to these matters, he must write elaborate marginal exhortations to this authority, begging his mercy, to let the little flowers of spelling alone.
This consists merely of a set of marginal embellishments in a small folio volume, of which the text, written in a very large lower-case gothic letter, forms the central part.
This is really an elegant volume: written in the gothic character of the period, and sprinkled with marginal and capital initial decorations.
Petrarch, when informed of her death, wrote that marginal note upon his copy of Virgil, the authenticity of which has been so often, though unjustly, called in question.
The underlined passages and the marginal comments gave evidence of an extraordinary love of beauty, in whatever shape or form.
When ships are taken out of the line for repair, the process is too damn long, mostly because of the marginal and nonstandard support equipment.
I can always see it printed in small type in a footnote at the bottom of the page, and I always wish to skip it, as I do other footnotes, and annotations, and marginal notes and addenda.
A tail is not affected for the purposes of flight, whether its marginal, or its central feathers are decorated with white.
Now his capable glance ran aft along every marginal line of the boat, now it dropped below to where the big stage lay drawn in athwart the forward deck from guard to guard.
Red marginal lines, crossed at the corners after the manner of an Oxford picture frame, enclosed each page of type, little red crosses took the place of full stops.
The page number in the printed book is retained in the Table of Contents and some picture captions, and in marginal page numbers shown in parentheses.
The New Internal Revenue Law, approved June 30, 1864, with Copious Marginal References, a Complete Analytical Index, and Tables of Taxation.
The segments divide by vertical walls in various directions so that the young plant rapidly assumes the form of a flat plate of cells attached to the ground by root hairs developed from the lower surfaces of the cells, and sometimes from the marginal ones.
In making a correction in a proof always mark the wrong letter or word through and insert the alteration in the margin, not in the middle of the printed matter, because it is liable to be overlooked if there is no marginal reference to the correction.
Another stumbling block in the way of advance in wages is the inefficient or marginal or no-profit employer, who, hanging on the ragged edge of ruin, opposes the raising of wages on the ground that the slightest concession would plunge him into bankruptcy.
In these marginal bodies there is always a deposit of pigment; this is, unquestionably, a primitive retina, while the transparent disk is, indubitably, a primitive lens.
The picture also illustrates how the marginal crevasses of a glacier point down stream from the center, though the center flows faster than the sides.
This posthumous Queen's head stamp was of similar design to the other values of the numeral series and had the same sheet arrangement and marginal inscriptions.
I sent him exercises and construing twice a week, and twice a week he sent them back to me corrected, with marginal notes of instruction.
Then, gradually, almost insensibly, the marginal portion began to darken, leaving the outline of the mummy in pale relief.
I shall be pardoned for adding a marginal note written, apparently late in Scott's life, on his copy of a little forgotten volume, entitled Trifles in Verse, by a Young Soldier.
The other reading adopted in Authorized Versions is likely to have arisen from a marginal note which crept into the text, and was due to some copyist who was struck by Peter's free handling of the passage, and wished to make the quotations verbally accurate.
For ongoing emotional comfort and to set up dates for caresses he would be calling that nurse, smitten as she was for his good looks and his marginal celebrity status.
Above this limit expenses of production in no sense help to determine monopoly prices; the true determinants are entirely in the region of demand, and are measured by the marginal utility or satisfaction afforded to consumers by the several quantities which constitute supply at any given time.
Those having marginal translations may be very convenient for indolent boys, but they are not altogether the most serviceable.
It has a shorter and broader snout than the crocodile, and the large teeth of the lower jaw shut into pits in the upper jaw, which has no marginal notches.
In this, even Luther (marginal note: "rich man, one who in his doings founds himself on riches," i.e., an ungodly man), and Calvin had preceded them.
The marginal spines usually curve forward and vary in size from small, hardly perceptible forms, to large sharp conical structures.
Most of the purchasers of each article would give more than ten for it if they had to, but some would not do so, and the producers cater to the needs of these marginal persons.
They have power to render services of varying degrees of importance, and each of the several services gets its normal valuation when producers make enough to supply the want of a particular group of persons to whom it is a marginal service and who are willing to pay only what it costs.
Such an entrepreneur entering the field, drawing marginal labor and capital away from the entrepreneurs who are already there and combining them in a new establishment, can make them produce more than he will have to pay them and pocket the difference.
When this leveling has taken place in both cases, the all-around marginal product of labor fixes the rate of wages, and that of capital fixes the rate of interest.
Total product of land, labor and auxiliary capital minus the product created by the labor and auxiliary capital when these agents are put in marginal positions equals the rent of the land.
In the end it is discarded because it has so deteriorated that it no longer adds anything to the marginal product of the labor and capital that are used in connection with it.
The cost, in labor and capital, of that marginal part of the supply of food which has come from these poorest lands would continue to be what it has been heretofore.
The price of cloth woven on good looms is the same as that of equally good cloth woven on marginal ones, and it affords a net surplus above the cost of maintaining the stock of looms and the wages and interest paid by manufacturers for further capital used in connection with the good looms.
We shall see that values are ultimately measured in marginal labor, and as the value of money is measured in the same way, it follows that the price of each article, as expressed in money, is in a static state a correct expression of the comparative amount of labor that will make it.
Articles will sell in the market for about enough to pay for the labor that, when used as marginal labor, suffices to produce them; and as this amount of labor put into a given article grows less and less, the prices of the goods will actually pay for fewer and fewer days' labor.
Moreover, other capitalists, who are influenced mainly by regard for future standards of living, are somewhat affected by the immediate benefit which marginal savers have exclusively in view.
Care must be taken not to claim for this part of the adjustment any unerring accuracy; for the marginal productivity law does not work without friction.
The maps herewith and listings of marginal localities are the means chosen to present the information on geographic distribution.
Italic type is used for those marginal localities that could not be represented by symbols on the map because undue crowding, or overlapping, of the symbols would have occurred.
They are beautiful, happy, intense, interesting, wise, idiotic, focal, marginal, insipid, confused, vague, precise, rational, casual, general, particular, and many things besides.
I know not whether you will be able to decipher these foul scrawls or distinguish them from the marginal explications, with which I have accompanied them.
Following my critical tendencies at the other concerts, I find the program of this first recital filled with marginal comments.
This time I was one of the commentators, and marginal notes in the shape of initials and scribbled profiles got in where they shouldn't.
The point of departure for introspective psychology is to be found, so it seems, not in the facts of behavior, but in the distinction between focal and marginal experience.
If, then, we choose to say in such a case that the individual carries his expenditure along each line to the precise point at which the last or marginal utility enjoyed is precisely equal to the marginal utility on every other line, it seems not difficult to grasp what such a statement means.
The real centers of initiation in it are creatively intelligent individuals whose economic character as such expresses itself not in "absolute" marginal registrations but in price estimates.
Without cheap labor these marginal resources, it is asserted, could not profitably be exploited, and would therefore not be developed.
Along these lines the marginal ice suffers the greatest strain, and, consequently across these lines and at right angles to them, the ice tends to break and to form marginal crevasses.
The marginal fissures are very cleanly cut, and point nearly in the direction already indicated; the glacier also changes its inclination several times along the distance within the observer's view.
Another effect is here beautifully shown, namely, the union of the transverse and marginal crevasses to form continuous fissures which stretch quite across the glacier.
In virtue of the quicker central flow the lateral ice is subject to an oblique strain; but, instead of stretching, it breaks, and marginal crevasses are formed.
This is the amount of yielding required from the ice in five hours, but it cannot grant this; the glacier breaks, and numerous marginal crevasses are formed.
The assumption of oblique sliding, and the production thereby of the marginal structure, have, however, been fortified by considerations of an ingenious and very interesting kind.
If I understand aright, this is the main argument of Professor Forbes in favor of his theory of the oblique marginal structure.
It is divided into marginal, transverse, and longitudinal structure; which may be regarded as complementary to marginal, longitudinal, and transverse crevasses.
The vein is displaced toward the fourth throughout its length, and only very rarely does it extend far enough to join the marginal vein.
Far in the distance seems the day when I read his marginal note upon a magazine article I sent him, concerning the stupendous cost of crime.
The scheme, thus stated, says nothing as to the causal relation between marginal utility and market ratios; it merely states certain mathematical relations between each individual system of marginal utilities on the one hand, and the abstract market ratios on the other.
The value of money is based on these separate services, it is "the capitalized value of the service rendered in the marginal exchange."
The marginal utility of a good to a man is the power the last, or "marginal," unit of the good which the man consumes has to give him satisfaction, or, viewed from the standpoint of the man, is the intensity of his desire for, or of his satisfaction in, the final unit consumed.
Recognizing that marginal utilities to individuals are essential to economic values of consumption goods, we shall have to point out other things which are also essential, and we shall have to explain the factors determining these marginal utilities themselves.
Bows and arrows are effective in the hands of expert archers, and the great figures in the history of economics have done wonderful things with marginal utility, "real costs," and the quantity theory.
Later formulations of the utility theory and the labor cost theory, as represented by the theory of Schumpeter, which we shall discuss in the chapter on "Marginal Utility," give us, in a scheme of purely static equilibrium, a picture of the adjustment of the individual values to the social values.
The marginal cost of producing twenty-three and twenty-two hundredths grains of gold will always be a dollar, however the dollar may vary in value.
The first writer merely underlined the passage with marginal comment that this was to be deleted by ecclesiastical order.