Fashion Threads Company uses the following four steps to make a particular pair of cotton slacks:

a. Cotton is planted, grown, harvested, and shipped to a textile manufacturer. The cost to produce the cotton associated with the slacks is $5. This amount of cotton is sold to the manufacturer for $5.50.

b. Raw cotton is processed into cotton fabric. The cost of producing the fabric for the slacks, including the cost of the raw cotton, is $13.25. This fabric is sold to a garment manufacturer for $17.

c. Cotton fabric is cut and sewn to produce a pair of slacks. The cost of making the slacks, including the cost of the fabric, is $25. The slacks are sold to a retailer for $30.

d. The cost to the retailer of making the slacks available for sale, including the cost of the slacks, is $34. The retailer sells the slacks for $56.

How much profit is earned at each step in the production and selling process? How much total profit is earned by those involved in making and selling the slacks? Why are customers willing to pay the amounts involved in this process?