The value of a producer's output minus the value of the inputs it purchases from other producers is called the producer's
a. value added.
b. profit.
c. surplus.
d. gross product.
Answer: A
The value of a producer's output minus the value of the inputs it purchases from other producers is called the producer's
a. value added.
b. profit.
c. surplus.
d. gross product.
Answer: A