The N______ R_____________ Value of an Inventory Item for a Retailer

question 44

Short Answer

The n______ r_____________ value of an inventory item for a retailer is its expected selling price in the normal course of business net of GST)less any estimated costs required to dispose of the item.

---

Definitions:

Marginal Revenue Product Curve

A curve showing the additional revenue generated by employing one more unit of a resource, assuming all other factors are constant.

Marginal Revenue Product

The increase in revenue resulting from the utilization of one more resource unit.

Wage Rate

The amount of compensation paid to employees per unit of time worked, often expressed per hour or year.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a particular input, assuming all other inputs remain constant.