Zookal Homework Help

Homework Help

  1. Business
  2. Economics
  3. i understand most of this but having trouble with c...

Question: i understand most of this but having trouble with c...

Question details

Country C produces 1,000 pounds of cotton at a cost of 50 cents per pound. They sell all of the cotton to Country S for 75 cents per pound. Country S makes 1,000 t-shirts with the cotton for a total cost of $1.50 per t-shirt. They sell all of the shirts to Country R for $2.00 each. Country R sells 950 of the t-shirts to domestic consumers for $10 each and the total cost of producing each shirt is $8 each. There are no other firms in this simple world. All income in the economy is either profit income or wage income 4. a. Find the value added by each country b. What is the value of world GDP? c. Percentage wise, how much income is earned by workers as opposed to the owners of capital in each country? prot 25o (332 00 1, 100

I understand most of this, but having trouble with C. Correct answers are shown, all I need to know is how to work through the problem. Please show work

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution