Question
A farmer buys seed for 15 that is used to grow wheat. The farmer sells the wheat to themiller for 30 cents, who makes flour.
A farmer buys seed for 15 that is used to grow wheat. The farmer sells the wheat to themiller for 30 cents, who makes flour. The flour is sold to the baker for 60 cents and the bakermakes bread, which is sold to the grocer for 90cents.The grocer sells the bread for $1.25. What is the value added for the miller?
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The value added by the miller is the difference between the se...
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Principles of economics
Authors: N. Gregory Mankiw
6th Edition
978-0538453059, 9781435462120, 538453052, 1435462122, 978-0538453042
