# 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. Xproduces 1,337 liters of ink monthly, Y produces 56,967 pens monthly, and Z produces 20 metric tons of paper monthly. X sells all of the ink it produces to Y at a marketprice of \$330 per liter. Y sells 43,494 pens at a market price of \$0.97 per pen and stores the rest as inventory. Z sells all of its paper at the market price of \$834 permetric tonThe annual market value of production in this economy is \$(Round your answer to two decimal places.)

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Asked Oct 3, 2019
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What is the annual market value of production in this economy?

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Step 1

Annual market value of production in the economy is the sum of  total goods and services produced in an economy during a given period of time.

Step 2

While calculating the annual market value, value of Ink does not consider. ...

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