What is market value?

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter15: Lean Accounting And Productivity Measurement
Section: Chapter Questions
Problem 23DQ: What is the price-recovery component?
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What is market value?

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Step 1: Market value definition

Market value is the competitive price at which an asset will sell in the market. It is the highest price that a buyer is willing to purchase and the lowest price at which a seller is willing to sell. 

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