In reply to OPE-L 4223, Rakesh, my understanding is that, in Marx's theory, the cost-price is the sum of used-up constant capital and variable capital. Thus the comment "the price of production will differ from the value, not only because p differs from s, but also because k diverges from the value of its (material) elements" implies that the used-up constant capital value diverges from the value of its (material) elements. I also think that, in Marx's theory, the amount of value that is transferred to the product is the used-up constant capital value. See, e.g., Vol. I, Ch. 8. Hence, the amount of value that is transferred to the product diverges from the value of the (material) elements of the constant capital. Maybe a direct answer to your question "Why is not "the value of the means of production consumed", not [but???] their cost price, which determines the value transferred from the means of production by labor to the output?" may help. If I understand the question, my answer is that cost price is a transformed form of the value of used-up constant capital (plus variable capital), and it is the value of used-up constant capital that is transferred to the product. The value of the used-up means of production is NOT what is transferred. Andrew Kliman
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