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Country C produces 1,000 pounds of cotton at a cost of 50 cents per pound. They sell all of the cotton to Country S for 75 cents per pound. Country S makes 1,000 t-shirts with the cotton for a total cost of $1.50 per t-shirt. They sell all of the shirts to Country R for $2.00 each. Country R sells 950 of the t-shirts to domestic consumers for $10 each and the total cost of producing each shirt is S8 each. There are no other firms in this simple world. All income in the economy is either profit income or wage income 4. a. b. c. Find the value added by each country What is the value of world GDP? Percentage wise, how much income is earned by workers as opposed to the owners of capital in each country?

Need help, please show work. Also Im having trouble with this problem. Please be specific on what answer goes to A, B, or C

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