Firm T produces 600 tires at a cost of $25 each, and sells all 600 tires to Firm B at a cost of $30 each. Firm F produces 300 bicycle frames at a cost of $100 each, and sells all 300 frames to Firm B for $125 each. Firm B produces 300 bicycles at a cost of $250 each. Firm B sells 290 bicycles to consumers for $300 each. They do not sell the remaining bicycles. In each blank, enter a whole number with no commas and no dollar sign. In this simple economy the value of consumption is and the value of inventory investment is

Firm T produces 600 tires at a cost of $25 each, and sells all 600 tires to Firm B at a cost of $30 each. Firm F produces 300 bicycle frames at a cost of $100 each, and sells all 300 frames to Firm B for $125 each. Firm B produces 300 bicycles at a cost of $250 each. Firm B sells 290 bicycles to consumers for $300 each. They do not sell the remaining bicycles. In each blank, enter a whole number with no commas and no dollar sign. In this simple economy the value of consumption is and the value of inventory investment is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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