Jiffyland produces nothing but peanut


2. Suppose that Jiffyland produces nothing but peanut butter. In 2013 the following activities were observed:

1. Peanut farmers sold $20 million worth of peanuts to distributors.
2. Distributors sold $30 million worth of peanuts to processors.
3. Processors sold $50 million worth of peanut butter to producers.
4. Producers sold $60 million worth of jars of peanut butter to grocers.
5. Grocers sold $75 million worth of jars of peanut butter to final consumers.

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Microeconomics: Jiffyland produces nothing but peanut
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