Assertion: price | /r/HasProperty | determined by necessary labor time
Facets:
value: socially
type: MANNER
value: under equilibrium conditions
type: OTHER
Source sentences:
text: Karl Marx modified it by arguing that the labor theory of value requires that prices, under equilibrium conditions, are determined by socially necessary labor time needed to produce the commodity and that quantity of money was a function of the quantity of commodities, the prices of commodities, and the velocity.