You could also remove the use-value of diamonds, giving them an effective price of zero; or increase the labour hours per diamond to delta over zero ( " electricity so plentiful it wouldn't need to be metered " ) . talk ) 08 : 53, 11 July 2012 ( UTC)
12.
If, however, prices can fluctuate above or below value for all sorts of reasons, Marx's law of value is best seen as a " law of grand averages ", an overall " generalisation " about economic exchange, and the quantitative relationships between labour hours worked and real prices charged for an output are best expressed in " probabilistic " terms.
13.
There are two kinds of labour variances . " Labour Rate Variance " is the difference between the standard cost and the actual cost paid for the actual number of hours . " Labour efficiency variance " is the difference between the standard labour hour that should have been worked for the actual number of units produced and the actual number of hours worked when the labour hours are valued at the standard rate.
14.
There are two kinds of labour variances . " Labour Rate Variance " is the difference between the standard cost and the actual cost paid for the actual number of hours . " Labour efficiency variance " is the difference between the standard labour hour that should have been worked for the actual number of units produced and the actual number of hours worked when the labour hours are valued at the standard rate.
15.
Case 1.2 Less paint and 3 / 4 of the previous amount of labour hours required ( 4 / 3 times the amount are now needed for B compared to A ), i . e . relative to the H hours required for paint A, paint B requires 4 / 3 & times; 4 / 3 = 16 / 9 times the hours ( cost = 36H & times; 16 / 9 = 64H ).
16.
Incorporating ONLY statement 1 with the given paragraph . . . We need to make an assumption that the reduced volume of paint A needed ( 3 / 4 of the volume required by using paint B ) results only in a cost saving on the paint, and NOT that less paint equals less hours of labour : after all, the same area needs covering and we know it takes a third longer with paint B . If this assumption is false and that less paint ALSO equals less labour hours then we have a slightly different problem.
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