How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Chris M. Your Own Question

Chris M.
Chris M., M.S.W. Social Work
Category: Homework
Satisfied Customers: 2782
Experience:  Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)
Type Your Homework Question Here...
Chris M. is online now
A new question is answered every 9 seconds

Calculate GDP based

This answer was rated:

Will Expire @ 2012/2/2 14:30 ET

A flour mill produces $1000 worth of flour, of which $700 goes to a bakery and $300 to consumers. A water supplier produces $300 worth of water, of which $200 goes to the bakery and $100 to consumers. The bakery produces $1500 worth of bread and sells all of it to consumers. The three companies pay wages as follows: the mill pays $400, the water supplier $200, and the bakery $200. There are no other costs of production. a. Calculate GDP based on the value of production. b. Calculate profits to the owners of each of the three companies (profit = revenue minus costs). c. Calculate GDP based on income.

You need to spend $3 to view this post. Add Funds to your account and buy credits.
Chris M. and 2 other Homework Specialists are ready to help you

Related Homework Questions