Use the Following to Answer Questions

question 59

Multiple Choice

Use the following to answer questions .
Exhibit: Stages in the Production of an Office Building

-(Exhibit: Stages in the Production of an Office Building) A mining firm extracts iron from the earth. A steel mill converts the iron to steel beams for use in construction. A construction company uses the steel beams to make a building. Assume that the total product of these firms represents the only components of the building and that they will have no other uses. Suppose the value-added tax is 10%. What is the total VAT collected from all stages of production including final sale?

• A) $1,050,000
• B) $127,500
• C) $95,000
• D) $72,500

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Definitions:

Mitosis

The process of cell division in eukaryotic cells where one cell divides to produce two genetically identical daughter cells.

Prophase

The first stage of cell division in both mitosis and meiosis, characterized by the condensing of chromatin into visible chromosomes.

Metaphase

A stage of cell division where chromosomes align in the middle of the cell before being separated into each of the two daughter cells.

Paired Comparisons

A statistical technique that involves comparing each pair in a set of observations to assess differences.