A manufacturing company that has just located in a small
Chapter 10, Problem 57(choose chapter or problem)
A manufacturing company that has just located in a small community will pay two million dollars per year in salaries. It has been estimated that 60% of these salaries will be spent in the local area, and 60% of the money spent will again change hands within the community. This process, called the multiplier effect, will be repeated ad infinitum. Find the total amount of local spending that will be generated by company salaries.
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