All income in economy is either profit income or wage income

Assignment Help Business Economics

Reference no: EM131076335

Firm C produces 1,000 pounds of cotton at a cost of 50 cents per pound. They sell all of the cotton to Firm S for 75 cents per pound. Firm S makes 1,000 t-shirts with the cotton for a total cost of $1.50 per t-shirt. They sell all of the shirts to Firm R for $2.00 each. Firm R sells 950 of the t-shirts to consumers for $10 each and the total cost of producing each shirt is $8 each. There are no other firms in this simple economy. All income in the economy is either profit income or wage income. Do not enter dollar signs, and enter whole numbers only. The value of consumption is ____ $ and the value of investment is___ $ .

Please provide full explanation

Reference no: EM131076335

Questions Cloud

What would be the equivalent net savings per machine hour : You have purchased a machine costing $30000. The machine will be used for 2 years, and at the end of this time, its salvage value is expected to be $18000. The machine will be used for 6,000 hours during the first year and 8000 during the second year..

Discuss the process of the medicalization : After you view the film, One Flew Over the Cuckoo’s Nest, respond to the following two questions: 1. Labeling theory refers to the idea that deviance and conformity result not so much from what people do as from how others respond to those actions. D..

Audit program for application systems for auditing : Discuss which employees and organizations have a deeper-level of information assurance (IA) policy compliance and examine the factors that increased the individual's level of propensity for compliance.

Define a class to represent a node in a doubly linked chain : In a doubly linked chain, each node can point to the previous node as well as to the next node. Figure 4-9 shows a doubly linked chain and its head pointer. Define a class to represent a node in a doubly linked chain.

All income in economy is either profit income or wage income : Firm C produces 1,000 pounds of cotton at a cost of 50 cents per pound. They sell all of the cotton to Firm S for 75 cents per pound. Firm S makes 1,000 t-shirts with the cotton for a total cost of $1.50 per t-shirt. There are no other firms in this ..

How long would it take giant tortoise to travel five meters : A giant tortoise can walk about 1/10 meter per second on land. A cooter turtle can walk about 1/2 per second on land. how long would it take a giant tortoise to travel five meters?

Case of managerial hubris : For this assignment, read the case study, "The 1920 Farrow's Bank Failure: A Case of Managerial Hubris." This case is located in the ABI/Inform Complete database found in the CSU Online Library (see reference below). Hollow, M. (2014). The 1920 Fa..

The real price of movie ticket was the same in both years : In 1976 a movie ticket was $4 and the price index was 56. In 2009 a movie ticket was $9 and the price index was 228. Based on this information: The real price of a movie ticket was the same in both years.

Find the rate at which water is being pumped into the tank : Water is leaking out of an inverted conical tank at a rate of 10,000 cm3/min at the same time that water is being pumped into the tank at a constant rate. find the rate at which water is being pumped into the tank

User Account

All Pages