d. Now suppose that 10 new machines (costing $125,000 each) are introduced and productivity increases so that the value of output (with the same number of workers) is now $12.5 million. At the same time 25 workers are laid off. What is the organic composition of capital? (1) e. What is the rate of exploitation in part d? (1) f. What is the rate of profit? (1) g. Now suppose that the prospect of retrenchment, forces workers accept a wage cut (in part d) and they now earn $20,000 as wages. The cost of machines remains the same. What is the organic composition of capital? (1) h. What is the rate of exploitation in g? (1) i. What is the rate of profit? (1) j. Briefly explain Marx's discussion of the law of the tendency of the falling rate of profit and the countervailing tendencies (2) k. Give 2 examples of countervailing tendencies) (2) d. Now suppose that 10 new machines (costing $125,000 each) are introduced and productivity increases so that the value of output (with the same number of workers) is now $12.5 million. At the same time 25 workers are laid off. What is the organic composition of capital? (1) e. What is the rate of exploitation in part d? (1) f. What is the rate of profit? (1) g. Now suppose that the prospect of retrenchment, forces workers accept a wage cut (in part d) and they now earn $20,000 as wages. The cost of machines remains the same. What is the organic composition of capital? (1) h. What is the rate of exploitation in g? (1) i. What is the rate of profit? (1) j. Briefly explain Marx's discussion of the law of the tendency of the falling rate of profit and the countervailing tendencies (2) k. Give 2 examples of countervailing tendencies) (2)