Joe Bain
Joe Bain (born July 4, 1912 in Spokane , Washington , † September 7, 1991 in Columbia , Ohio ) was an American economist .
Bain is considered to be a representative of the law of mass production , which assumes falling supply curves in a price-quantity diagram , since the higher the sales volume, the lower the production costs and thus the lower the price of the goods sold . In economics , however, due to opposing laws, such as the law of decreasing marginal yield , one rather assumes rising supply curves. Bain is in contradiction to Johann Heinrich von Thünen and his successors.
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| personal data | |
|---|---|
| SURNAME | Bain, Joe |
| BRIEF DESCRIPTION | American economist |
| DATE OF BIRTH | 4th July 1912 |
| PLACE OF BIRTH | Spokane , Washington |
| DATE OF DEATH | September 7, 1991 |
| Place of death | Columbia , Ohio |