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28 October, 02:41

What is the difference between the value of a firm's final product and the value added by the firm to the final product?

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  1. 28 October, 03:46
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    The value of a firm's final product is the selling price whereas value added refers to the addition of value to the raw material (intermediate products).

    Explanation:

    The term "value added" describes the enhancement a company gives to its product before offering it to the customer. It can be considered as an extra special feature added by a company to increase the value of a final product.
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