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Sublight2097 Sublight2097
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8 years ago
Consider the following simplified sequence of exchanges. A logger sells an oak tree to a sawmill owner for $60. The sawmill mills it, and sells the boards to a woodworker for $80. The woodworker makes an oak bookcase out of the boards, and sells it to a retailer for $300. The retailer then sells you the bookcase for $500. What is the total value added?
A) $200
B) $300
C) $440
D) $500
E) $940
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SydnieSydnie
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8 years ago
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Sublight2097 Author
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#2
8 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
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