Suppose that an economy shows only the following activities in a specific year:

i. It costs an automobile manufacturing company \(€ 10\) million to assemble 5,000 cars. The cars are then sold to stores for \(€ 12\) million.

ii. The stores pay their workers an annual wage of \(€ 1\) million and then sell the cars directly to the consumers for \(€ 15\) million. Please find other instances like this and correct them.

a. Calculate the GDP in this economy using the productionof-final-goods approach.

b. Calculate the GDP using the value-added approach. Show the value added at each stage of production.

c. Calculate the GDP using the income approach. Show the costs incurred and profits earned.