Suppose that furniture production encompasses the following stages: Stage 1: Trees are sold to lumber company. $1,000 Stage 2: Lumber is sold to furniture company. $2,500 Stage 3: Furniture company sells furniture to retail store. $6,000 Stage 4: Furniture store sells furniture to consumer. $12,000 Instructions: Enter your responses rounded to the nearest whole number. a. What is the value added at each stage?
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