The value added by any firm equals the firm's ________ from selling the product minus ________.
A. profits; the cost of inputs purchased from other firms
B. revenue; the cost of inputs purchased from other firms
C. revenue; labor expenses
D. profits; labor expenses
Answer: B
Economics
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Suppose all tickets to the World Series have already been sold. Will any further sales occur if the going price rises?
A) No, and therefore a higher price will have no effect. B) No, but a smaller quantity will be demanded. C) Not unless more tickets are printed. D) Yes, as some ticket-holders sell to others. E) Yes, but the further sales will reduce the price to the original level.
Economics
Provide an example of each allocation method that illustrates when it works badly
What will be an ideal response?
Economics