Economic Value Added Is Based on the Concept That Decisions

question 3

True/False

Economic Value Added is based on the concept that decisions should only be made on projects accepted only if net operating profit after taxes exceeds the expected cost to finance the project

---

Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and the creation of inventions to solve problems or improve processes.

Short-Run Total Cost Function

A formula showing the total cost of production when at least one factor of production is fixed in the short run.

Average Cost

Calculated by dividing the total cost of production by the number of goods produced.

Quantity of Output

The total amount of goods or services produced by a company, industry, or country.