Business, 22.02.2020 00:58, gaby6951

Suppose that furniture production encompasses the following stages:Stage 1: Trees sold to lumber company S 800Stage 2 Lumber sold to furniture company $1,500Stage 3: Furniture company sells furniture to retail store $2,800Stage 4: Furniture store sells furniture to consumer $5,400(a) What is the value added at each stage?Stage 1: -___-_Stage 2 _-__-_Stage 3: _-__-_Stage 4: -_(b) How much does this output contribute to GDP?(c) How would answer (b) change if the lumber were imported from Canada?

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Suppose that furniture production encompasses the following stages:Stage 1: Trees sold to lumber com...