233. D. H. Robertson to Harrod , [April 1932] [a]

[Replies to 232 ]

[April 1932]

Yes,--I see,--your argument is, I think, rightly represented in this diagram? I see I have been muddled: [fig. 1]

The S curves are presumably short period or prime cost curves. If so, it seems to me doubtful if S B can be represented as falling,--indeed I should think (as I think you concede) it probably rises slightly. But that doesn't affect the main point.

  1. a. AN pencilled on the same leaf of letter 232 , in HP IV-990-1069d/9.


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