For a firm, value added can be defined as the difference between the
ECONOMICS
JAMB 2003
For a firm, value added can be defined as the difference between the
- A. input prices and product prices
- B. value of its output and inputs purchased from other firms
- C. value of its output and the cost of production
- D. total revenue and total cost
Correct Answer: B. value of its output and inputs purchased from other firms
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