100 people (50 men and 50 women) live on a small island. Twenty men work in a mi

Question

100 people (50 men and 50 women) live on a small island. Twenty men work in a mine where they produce steel. The mine sells the annual steel production to the local shovel manufacturer for $2500. The proceeds from the sale are equally divided among the miners and paid out as wages. The shovel manufacturer, a local woman, employs 10 women to produce 20 steel shovels every year. These shovels are sold to male farmers for $250 apiece. The shovel manufacturer keeps $500 as profit for herself and pays her workers

Explanation / Answer

1.     $61000

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2. $61500

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3. 0.000082%

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