Farmers sold $15,000 of oranges to juice producers, $3,000 of which were exports. Expenses: rent ($1,000), wages ($11,000). • Juice producers sold $14,000 of juice to cafes. Expenses: ($12,000) worth of oranges from local growers and paid ($2,000) in wages. • Cafes sold $60,000 of meals & drinks. Expenses: imported steak ($20,000), juice ($14,000), wages ($22,000), rent ($5,000). Local producers sold $150,000 worth of clothes. Expenses were ($45,000) worth of imported cotton, ($25,000) for a new imported machine imported, and ($85,000) in wages. Foreign cotton producers sold $45,000 of cotton. Expenses: $10,000 in wages. The producers rebate their profits ($35,000) to domestic con- sumers.

Farmers sold $15,000 of oranges to juice producers, $3,000 of which were exports. Expenses: rent ($1,000), wages ($11,000). • Juice producers sold $14,000 of juice to cafes. Expenses: ($12,000) worth of oranges from local growers and paid ($2,000) in wages. • Cafes sold $60,000 of meals & drinks. Expenses: imported steak ($20,000), juice ($14,000), wages ($22,000), rent ($5,000). Local producers sold $150,000 worth of clothes. Expenses were ($45,000) worth of imported cotton, ($25,000) for a new imported machine imported, and ($85,000) in wages. Foreign cotton producers sold $45,000 of cotton. Expenses: $10,000 in wages. The producers rebate their profits ($35,000) to domestic con- sumers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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