MNLogs harvested logs (with no inputs from other companies) from it's property in Northern Minnesota. It sold these logs to MNLumber for $1500 and MNLumber cut and planed the logs int lumber. MNLumber then sold the lumber for $4,000 to MNFurniture. MNFurniture used the lumb to produce 100 tables that is sold to customers for $70 each. Please enter your answers as numeric responses with no decimal places (ie. 2000 or $2000 not $2000.00 or "Two thousand dollars") What is the total contribution to GDP from the above transactions? What is the Value Added for MNLogs?

MNLogs harvested logs (with no inputs from other companies) from it's property in Northern Minnesota. It sold these logs to MNLumber for $1500 and MNLumber cut and planed the logs int lumber. MNLumber then sold the lumber for $4,000 to MNFurniture. MNFurniture used the lumb to produce 100 tables that is sold to customers for $70 each. Please enter your answers as numeric responses with no decimal places (ie. 2000 or $2000 not $2000.00 or "Two thousand dollars") What is the total contribution to GDP from the above transactions? What is the Value Added for MNLogs?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Inputs and Outputs Hairstyles per week Labor costs per week Energy costs per week Material costs per week Capital investment Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Current (this year) % haircuts/dollar haircuts/dollar haircuts/dollar * haircuts/dollar Expected (next year) X Labor Energy Material Total What is the percentage change in total productivity? Do not round intermediate…
The LEGO Architecture Collection includes three items: the White House Model Building Kit (at $80 per kit), the U.S. Capitol Building Kit (at $40 per kit), and the Mar-a-LEGO Club Building Kit (at $20.24 per kit; empty classified document folders are extra). Total costs of production for different quantities of each item are given below. a. WHITE HOUSE Output per day 0 100 200 300 400 500 600 White House U.S. Capitol Total cost Mar-a-LEGO 1600 5000 11000 18000 27000 40000 55000 U.S. CAPITOL Output per day 0 10 20 30 40 50 60 Total cost 100 400 750 1120 1510 1920 2350 MAR-A-LEGO Output per day 0 100 200 300 400 500 600 If LEGO's goal is profit maximization and the cost of production schedules cannot be altered, what quantity of each item should be produced in the short run? Total cost 2000 3500 5500 8000 11000 14200 15000 b. Above what market price (to the nearest penny) should LEGO begin producing Mar-a-LEGO kits? That is, what is the "shutdown price" for Mar-a-LEGO kits?
Just need a rough representation of the questions here
Only typed answer
Salisbury Smacthic Coimalies bet ucen O and lo00 Smeathies each manth. Their fixed costs $2000 a monthpand their monthly Varisble Gre cest is Cv Cx) = 0.o00123-0.082²+40x . dellars and where Cy is in number of smacthies sold R the . O what is the cost functicn cCx) accohnting for fixed cad Variable cests? Compute the merçinsl cost functien.
I need c
Question 3 to the cost of producing the (x + 1)st item? a Can you think of a cost function, so that the marginal cost at any r is exactly equal If yes, describe as many such functions as possible. If not, show why such a function cannot exist. Type here to search 7:00 PM ENG 4/27/2021 Esc Lock F1 F2 F6 F3 F4 F5 F7 Home End Delete F8 F9 F10 F11 F12 Insert %23 $4 & * 7. 4 5 6 Backspace 80 W E R T Y U S D F G H J K L B N M Alt Alt PrtSc Ctrl PgUp
b. The Yorkshire Cricket Company makes cricket bats out of lumber supplied to it by Acme Sporting Goods, which pays Yorkshire £10 for each finished bat. Yorkshire's only factors of production are lathe operators and a small building with a lathe. The number of bats per day it produces depends on the number of employee-hours per day, as shown in the table below. Number of bats per day 0 5 10 15 20 25 30 35 Number of employee-hours per day 0 1 2 4 7 11 16 22 (i) If the wage is £15 per hour and Yorkshire's daily fixed cost for the lathe and building is £60, what is the profit-maximising quantity of bats? (ii) What would be the profit-maximising number of bats if the firm's fixed cost were not £60 per day but only £30? (iii) How would Yorkshire's profit-maximising level of output be affected if the government imposed a tax of £10 per day on the company? (Hint: This tax independent from the production level.) (iv) What would Yorkshire's profit-maximising level of output be if the government…
Why are the total costs associated with reverse logistics increasing? Will this trend continueinto the future?
The table below provides the output level and the longrun total cost in US$ of Moselewapula Limited, Montsamaisabosigo Limited, and Majakathata Limited: Longrun Total Cost (in US$) Quantity of Moselewapula Montsamaisabosigo Majakathata Output Limited 1 60 Limited 11 Limited 21 2 70 24 34 3 80 39 49 4 90 56 66 сл 5 100 75 85 6 110 96 106 IN 120 119 129 (a) Calculate the average total cost for each firm at each level of output. [✓] (b) Draw the longrun average total cost curves for the three firms using excel. (c) Do the three firms exhibit economies of scale or diseconomies of scale? Justify your answer using data. | (d) Explain any factor that could lead to firms suffering from diseconomies of scale and any factor that could lead firms enjoying economies of scale.