Question: Consider a small country with only three producers, X, Y, and Z, who produce ink, pen, and paper, respectively. Y uses ink (output of

Consider a small country with only three producers, X, Y, and Z,

Consider a small country with only three producers, X, Y, and Z, who produce ink, pen, and paper, respectively. Y uses ink (output of X) in its production of pens. X produces 1,444 liters of ink monthly, Y produces 52,929 pens monthly, and Z produces 15 metric tons of paper monthly. X sells all of the ink it produces to Y at a market price of $415 per liter. Y sells 44,894 pens at a market price of $0.88 per pen and stores the rest as inventory. Z sells all of its paper at the market price of $689 per metric ton. The annual market value of production in this economy is $. (Round your answer to two decimal places.)

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Answer The annual market value of production in this economy is 7 8 74 070 24 ... View full answer

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