Why do capitalists introduce machines

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Q. If we accept Marx's labour theory of value, we run into a different problem: if a working day of 8 hours creates same amount of value in a highly mechanized industry as in an industry with few machines, why do capitalists introduce machines?

Q. Give equilibrium price and quantity for these specific demand and supply curves. Also, (a) sketch these curves. (b) Government decides that wheat cannot be bought or sold for less than $6 per unit of wheat. Is this a price ceiling or price floor? (c) Is it binding?

Reference no: EM1372293

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