The length of the workday is 12 hours and the original rate of surplus value is 100%. Suppose the value of labor is reduced to 2/3 of its original value, and the length of the workday is reduced to 10 hours. (1) Is this change in absolute surplus value production or relative surplus value production? (2) What is the rate of surplus value after the change?
The length of the workday is 12 hours and the original rate of surplus value is 100%. Suppose the value of labor is reduced to 2/3 of its original value, and the length of the workday is reduced to 10 hours. (1) Is this change in absolute surplus value production or relative surplus value production? (2) What is the rate of surplus value after the change?
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter11: Resource Markets
Section: Chapter Questions
Problem 4QFR
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3. The length of the workday is 12 hours and the original rate of surplus value is 100%. Suppose the value of labor is reduced to 2/3 of its original value, and the length of the workday is reduced to 10 hours.
(1) Is this change in absolute surplus value production or relative surplus value production?
(2) What is the rate of surplus value after the change?
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