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Author Question: Value added equals the market price of the firm's product minus A) the price of intermediate ... (Read 116 times)

moongchi

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on: Jun 29, 2018
Value added equals the market price of the firm's product minus
 
  A) the price of intermediate goods. B) wages and salaries.
  C) the price of all factors of production. D) depreciation on plant and equipment.

Question 2

Explain what is meant by capital.
 
  What will be an ideal response?


at

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

Capital is a good produced by the economic system which is used as an input to produce other goods and services in the future.


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