Emil Lederer · 1920
In this recorded commission speaking turn, Lederer challenges the assumption that coal consumption across the economy remains unchanged when its price rises from 12 to 35 marks:
Das ist für mich eine unmögliche Vorstellung, daß in der ganzen Volkswirtschaft bei 35 Mk. genau dieselbe Menge Kohle konsumiert wird wie bei 12 Mk.
English translation: To me, it is inconceivable that the entire economy consumes exactly the same quantity of coal at 35 marks as at 12 marks.
His objection makes demand’s responsiveness to price the central issue. The remark rejects constant aggregate consumption; it does not quantify the expected change or specify how different consumers would respond.
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