Wong, Kwok C. - In: Man and the Economy 3 (2016) 1, pp. 97-104
either be a quantity solution, a quality solution, or a combination of both. Once a fixed cost is committed by contract, it … qualities, which do not further increase this fixed cost, is less costly. The Law of Demand therefore implies the quality and …/or the quantity solutions. The quality solution, as provided by the Alchian-Allen Theorem, is but a special case: where an …