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The table below represents a simple economy with three firms: Sheepnip inc. makes sheep feed, Better-Bald inc. purchases sheep feed for the sheep it raises
The table below represents a simple economy with three firms: Sheepnip inc. makes sheep feed, Better-Bald inc. purchases sheep feed for the sheep it raises and sells wool, and Sweeter Sweater inc. makes and sells wool sweaters. All figures are measured in dollars. Sheepnip inc. Better-Bald inc. Sweeter Sweaters inc. Value of sales ($) 3,250 7,750 20,500 Sheep feed 0 3,250 0 Wool 0 0 7,750 Wages 1,000 3,500 10,000 Interest payments 1,000 400 1,500 Rent 1,000 200 900 Profits 250 400 350 Total firm's 3,250 7,750 20,500 expenditure a. What is the total income to factors of Sheepnip inc.? b. What is the total income to factors of Better-Bald inc.? c. What is the total income to factors of Sweeter Sweaters inc.? d. What is the GDP for this economy
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