The "Value Added" for an Individual Firm Can Be Calculated

question 113

Multiple Choice

The "value added" for an individual firm can be calculated by

• A)adding the cost of the intermediate goods used by the firm.
• B)subtracting the payments made to the factors of production used by the firm from the firm's revenue.
• C)calculating the revenue generated by the firm.
• D)calculating the profit generated by the firm.
• E)adding up the payments made to the factors of production used by the firm.

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Definitions:

Response To Selection

The process by which certain traits become more or less common in a population due to their impact on the survival and reproduction of their bearers.

Selection Differential

The difference between the average trait of the selected individuals for breeding and the average trait of the general population, indicating the potential for evolutionary change.

Drought

An extended period of below-average precipitation, resulting in prolonged shortages in the water supply, whether atmospheric, surface water, or ground water.

Bt Resistance

The acquired ability of pests to tolerate the Bacillus thuringiensis toxin, often through evolutionary adaptation, rendering Bt crops less effective.