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ollowing table illustrates the value added approach to calculating GDP. Please complete the table. Firm Value of Product Cotton farmer Raw Cotton = $2
ollowing table illustrates the value added approach to calculating GDP. Please complete the table. Firm Value of Product Cotton farmer Raw Cotton = $2 Textile mill Shirt company L.L.Bean Cotton woven into cotton fabric = $4 Fabric made into a shirt = $16 Value Added By: The cotton farmer The textile mill The shirt company Shirt sold on L.L.Bean's website = $36 L.L.Bean Total Value Added Value Added Equals 2 2 12
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