A farmer grows wheat and sells it to the miller for $84. The miller turns the...
A farmer grows wheat and sells it to the miller for $84. The miller turns the wheat into flour and sells it to the baker for $117. The baker turns the flour into bread and sells it to consumers for $188. What is the value added by the baker? Enter a whole number with no other characters.
Homework Answers
First
Farmer grows the wheat and sells to miller for 84.
Assume the input of farmer is zero, value added by the farmer is 84.
Second
Miller convert the wheat into flour and sells that to the baker for 117.
The value added by the miller will be 117 – 84 = 33
Three
Finally, the baker converts the flour into bread and sells to consumer for 188.
The value added by the baker will be 188 – 117 = 71
Answer – The value added by the baker is 71.
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A farmer grows wheat and sells it to the miller for $84. The
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consumers for $155. Consumers eat the bread.
Assume that the above transactions account for all economic
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