“The problem whether services should be sold separately or with the good as a whole arises in the case of durable commodities. The price of the service unit is called the rent. There is a definite relationship between the price of the unit services of a durable consumers’ good and the price of the good as a whole. The market price of the good as a whole is equal to the present value of the sum of its expected (future) rental incomes or rental prices. The capital value—the “price of the good as a whole”—of any good (be it consumers’ or capital good or nature-given factor) is the money price which, as a durable good, it presently sells for on the market. The capital value at any time is based on expectations of future rental prices.”
“For nondurable goods, the problem of the separate sale of the service of the good and of the good itself does not arise. Personal services are never sold as a whole, since, on the free market, slave contracts are not enforceable. Personal services, then, are always sold in their individual units.”
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