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?

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 value-added 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