Wouldn't capitalists be driven to sell below value by competition? If I make a commodity worth 150 dollars 50 being C 60 being V and 40 being S I could sell it at 120 dollars and still make a 10 dollars of profit while outselling my competition right?
Selling below value
Carson Brooks
Jace Robinson
Sure. Remember that value only determines equilibrium price.
Michael Jenkins
Value would be 110 in this case.
William Russell
Yeah, I don't get it either. Why not call C+V, the cost of production, the value?
Hudson Campbell
because the actual value includes surplus value.
Christopher Roberts
Or is C+V the price of production.
Dominic Hernandez
No its not. Vlaue is C+V+S you would be selling below value.
Carson Myers
not if they fix prices with the competition, which is easier to do overall
Alexander Sanchez
…And why does it do that?
The way I see it is the "objectivity" of value stems from the fact that if the producer sells below the cost of production in the long run they will cease to exist, so why is the supposed objective value is actually above the cost of production?
James Moore
In competition though they would be driven to sell below value though. Does Marx adress this?