Value Added Is Defined As

question 84

Multiple Choice

Value added is defined as:

• A) the value of productivity gains that arise when a firm increases its capital-labor ratio.
• B) the difference between the total cost of production of a product and the total revenues earned from the sale of the product.
• C) the amount by which the value of a firm's final output exceeds the total value of the intermediate goods and services used to produce the good.
• D) the cost savings that a firm enjoys when it reduces the cost of its resources by employing a more efficient production method.

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