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Business, 20.07.2021 01:00 kiannadgarnica

Consider the following facts: Firm C produces 1,000 pounds of cotton at a cost of 50 cents per pound. They sell all of the cotton to Firm S for 75 cents per pound.
Firm 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 Firm R for $2.00 each.
Firm R sells 900 of the t-shirts to consumers for $10 each and the total cost of producing each shirt is $8 each.
There are no other firms in this simple economy.
The value of consumption spending is $ .
The value of GDP is $ .

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