Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CONSIDER THE FOLLOWING PRODUCTION SITUATION FROM THE MARXIST PERSPECTIVE. Assumptions for Case 1: The standard workday is 10 hours. The combination of productive commodities needed

CONSIDER THE FOLLOWING PRODUCTION SITUATION FROM THE MARXIST PERSPECTIVE.

Assumptions for Case 1:

The standard workday is 10 hours. The combination of productive commodities needed to produce dishwashers: 10 tons of steel plus 4 tons of plastic plus 150 labor-powers produce 300 dishwashers. A worker's daily means of subsistence consists of two "Big Macs", one tent, and one pair of shoes.

The following values are given:

1 ton of steel

300 hours of SNALT

--

1 ton of plastic

100 hours of SNALT

--

1 "Big Mac"

2 hours of SNALT

--

1 tent

2 hours of SNALT

--

1 pair of shoes

1 hour of SNALT

--

Assumptions for Case 2:

Assume that the value of 1 tent falls to 1 hour of SNALT instead of 2 hours. Everything else remains as in Case 1. Recompute and record all entries requested below.

value of one labor power

value created by one labor power

value of one dishwasher

amount of surplus value extracted per day

amount of profit extracted per day

rate of surplus-value

rate of profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Technology Audit Handbook

Authors: Doug Dayton

1st Edition

0136143148, 978-0136143147

More Books

Students also viewed these Accounting questions