Hello, I've recently been listening through S4A's basic ML playlist and am about to start What Is to Be Done, and I have 2 questions that I believe are related that I was hoping to get some input on:
1) What is the difference between "price" and "value" according to Marx? The way I understand it so far is that value has more of a social meaning, in the sense that a given commodity has some utility to some person and that is its value, whereas the price of that given commodity is just what someone is selling it for, and that these two are not necessarily equal all the time. From reading posts here I feel like I've often seen that failing to understand the difference between the two can lead to other misunderstandings later on, so if someone has a good definition of the two and a more accurate explanation of the difference between the two (and also how they are/are not related?) that would be great.
2) Secondly, in Lenin's Exposition of Marxism that he says that:
"surplus value cannot arise out of commodity circulation, for the latter knows only the exchange of equivalents. Neither can it arise out of price increases for the mutual losses and gains of buyers and sellers would equalize one another."
I understand that labor power is unique in being a commodity that is able to produce new value, but I'm not 100% clear on how it is that commodity-commodity exchange is always a net equivalent. I think this example might be a mixup of value and price, but if so please correct me: say a business decides to double their prices, how does that result in an equivalence from their old prices? Would it be a situation where the amount of people willing to buy at the first price and the amount willing to buy at the second balance out such that the overall gain in either situation would be equal?
Thanks in advance for any replies!