If We Sum Up the Value Added at Every Stage

question 56

Multiple Choice

If we sum up the value added at every stage of production of a good, we will get:

• A) the total cost of the labor used to produce the good.
• B) the prices of the factors of production used to produce the good.
• C) the final value of the good.
• D) the capital-labor ratio.

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Definitions:

Epicondyle

A rounded eminence on a bone, typically found at the end of long bones, near joints, where ligaments and tendons attach.

Fossa

A term for a depression or hollow, often used in anatomy to describe a deep, trench-like structure in bones or tissues.

Medullary Cavity

The central cavity within bones where marrow, which produces blood cells, is stored.

Compact Bone

The denser, stronger outer layer of bone tissue that provides strength and protection to the bone structure.