questions 3-4 thank you 3. Suppose a worker can survive by daily consumption of $40 value of commodities as determined by the socially necessary labor time of 8 hours. Now, if the labor of this worker produces $40 commodities by working 8 hours a day, will this business produce any surplus-value? a) Yes. b) No. 4. A capitalist invests $40 in raw materials and hires a worker to produce a hand-made commodity X. Suppose one round of producing the commodity X takes 8 hours, and the socially necessary labor time to create labor power of the worker is 4 hours with a monetary value of $60. How much is the unpaid labor in this production process?

questions 3-4 thank you 3. Suppose a worker can survive by daily consumption of $40 value of commodities as determined by the socially necessary labor time of 8 hours. Now, if the labor of this worker produces $40 commodities by working 8 hours a day, will this business produce any surplus-value? a) Yes. b) No. 4. A capitalist invests $40 in raw materials and hires a worker to produce a hand-made commodity X. Suppose one round of producing the commodity X takes 8 hours, and the socially necessary labor time to create labor power of the worker is 4 hours with a monetary value of $60. How much is the unpaid labor in this production process?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 19CTQ: Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers...

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