what have the equal economic value
Answers
Answer:
Companies use the economic value to the customer (EVC) to set prices for their products or services. EVC is not derived from a precise mathematical formula, but it considers the tangible and intangible value of a product.
Explanation:
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Answer:
Economic value can be described as a measure of the benefit from a good or service to an economic agent. It is typically measured in units of currency. Another interpretation is that economic value represents the maximum amount of money an agent is willing and able to pay for a good or service. The economic value should not be confused with market value, which is the minimum amount a consumer will pay for a good or service. Thus, economic value is often greater than the market value.
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