[OPE-L:4572] Duncans vintages

Michael William (mwilliam@compuserve.com)
Thu, 27 Mar 1997 13:16:56 -0800 (PST)

[ show plain text ]

Alan wrote
> Let me ask this question. Suppose in February, the
> workers in a given branch of production make twice as
> many goods as in January, having worked the same number
> of hours in each month. Suppose this results from changes in
> technology which, for the sake of simplicity, we will assume
> have not changed the cost structure of the firm (that is, the
> organic composition does not change).

If twice as many tables are made, twice as much timber is used, by the same
amount of labour time, so the TCC has certainly risen. If the OCC is
constant, then you must be assuming that the value of the timber has
fallen. Why?

Dr Michael Williams
"Books are Weapons"

Department of Economics Home:
School of Social Sciences 26 Glenwood Avenue
De Montfort University Southampton
Hammerwood Gate SO16 3QA
Kents Hill
Milton Keynes
tel:+1908 834876 tel/fax: +1703 768641
fax:+1908 834979
email: mwilliam@torres.mk.dmu.ac.uk mwilliam@compuserve.com