1. Consider this simplified sequence: A farmer starts with a unit of wheat and sells it to a miller for 20 cents. The miller grinds it into flour and sells it to a baker for 50 cents. The baker converts all the flour into a loaf of bread and sells it to a grocer for $2.00. The grocer then sells that bread to a customer for $3.35. a) What is the total value added by the grocer? b) What is the total value added by all these stages of production? I c) How much does GDP increase?

1. The farmer produces 115 pounds of oranges at a total cost of $1.38 per pound.   He sells all of the oranges to Firm F for $1.71 per pound. Firm F produces 60 gallons of orange juice at a  total cost of $3.81 per gallon (including the amount paid to the farmer for the oranges).  Firm F sells 55 gallons of juice to consumers for $5.71 per gallon There are no other firms in this simple economy. What is the value added by Firm F? Enter a whole number with no dollar sign.   2. A farmer grows wheat and sells it to the miller for $1.25. The miller turns the wheat into flour and sells it to the baker for $2.00. The baker turns the flour into bread and sells it to consumers for $3.80. What is the value added by the baker? Group of answer choices $3.80 $7.05 $1.80 $0.55

Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Inputs and Outputs Hairstyles per week Labor costs per week Energy costs per week Material costs per week Capital investment Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Current (this year) % haircuts/dollar haircuts/dollar haircuts/dollar * haircuts/dollar Expected (next year) X Labor Energy Material Total What is the percentage change in total productivity? Do not round intermediate…

7. Which of the following are variable costs of production? Select one: A. the cost of electricity that powers an office building B. the cost of wood used to make tables C. the wages paid to non-salaried employees D. All of the listed choices are variable costs of production.