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Afarmergrowswheat, which he sells to amillerfor $1,500. Themillerproducesflour, which he sells to a bakerfor $1,800.Thebakerproduces all sorts ofbreads, which are sold to the public for
Afarmergrowswheat, which he sells to amillerfor $1,500. Themillerproducesflour, which he sells to a
bakerfor $1,800.Thebakerproduces all sorts ofbreads, which are sold to the public for $2,700.
If we made the mistake of double counting at every level ofproduction, as opposed to using the valued addedapproach, we would calculate the total value of the output to be __
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