_____ is the dollar value of a firm's output minus the value of the inputs it purchased from other firms.
A) Marginal revenue
B) Value added
C) Net value
D) Residual value
E) Net profit

Question

Quizplus · Accepted Answer

Value added refers to the difference between the value of a firm's output and the cost of inputs it has purchased from other firms. It represents the additional value created by the firm through its production process.

_____ Is the Dollar Value of a Firm's Output Minus