eco please help...... Alejandro owns a store specializing in soccer jerseys. In 2012, he purchased$150,000 worth of jerseys from manufacturers, employed one worker for $40,000,purchased $20,000 worth of supplies from an office supply store, and sold jerseysfor $280,000. Based on this information, what was the value added (producersurplus) at Alejandro's store in 2012?$490,000$280,000$110,000$70,000

Given:Cost of jeans: $150,000Cost of labor: $40,000Cost of supplies: $20,000Total Revenue: $280,000…

Answered: Alejandro owns a store specializing in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I'm not sure if I just do 25,000-18,000 to get $7,000 as the value added or if I also have to consider the steel mill and do 18,000-10,000 to get 8,000 and then add that to the 7,000 and get $15,000.
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Item14 ItemSkipped eBook Item 14 Harvey quit his job at State University, where he earned $58,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $8,000 a year. To start the business, he cashed in $60,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 15,000 units of software at $60 for each unit. Of the $60 per unit, $50 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The total revenues of Harvey's firm in the first year were
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