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Suppose that a farmer grows wheat, which she sells to a miller for $10.
The miller turns the wheat into flour, which she sells to a baker for $70.
The baker turns the wheat into cake, which she sells to consumers for $110.
Consumers eat the cake.
What is GDP in this economy?
Hint  110

Box 1: Enter your answer as an integer or decimal number. Examples: 3, 4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity
Suppose that a farmer grows wheat, which she sells to a miller for $10
The miller turns the wheat into flour, which she sells to a baker for $75.
The baker turns the wheat into cupcakes, which she sells to consumers for $170.
Consumers eat the cupcakes.
1. What is the value added by the farmer?
$
2. What is the value added by the miller?
$
3. What is the value added by the baker?
$
4. What is the GDP in this economy using the valueadded approach?
$Box 1: Enter your answer as a number (like 5, 3, 2.2172) or as a calculation (like 5/3, 2^3, 5+4)
Enter DNE for Does Not Exist, oo for Infinity
Box 2: Enter your answer as a number (like 5, 3, 2.2172) or as a calculation (like 5/3, 2^3, 5+4)
Enter DNE for Does Not Exist, oo for Infinity
Box 3: Enter your answer as a number (like 5, 3, 2.2172) or as a calculation (like 5/3, 2^3, 5+4)
Enter DNE for Does Not Exist, oo for Infinity
Box 4: Enter your answer as a number (like 5, 3, 2.2172) or as a calculation (like 5/3, 2^3, 5+4)
Enter DNE for Does Not Exist, oo for Infinity