Caroline is an artist.She purchases canvas,paints,brushes,and accessories for $75.She sells one of her original paintings to an art gallery for $1,500,even though an art lover would pay $4,500 for that painting.How much value does Caroline add?

Question

Quizplus · Accepted Answer

Caroline's cost for supplies is not included in the value that she adds, so we can disregard the $75 she spent on materials. The value that Caroline adds is the difference between the price that the art gallery paid for the painting ($1,500) and the amount that an art lover would have paid ($4,500). Therefore, the value that Caroline adds is $4,500 - $1,500 = $3,000.

Caroline Is an Artist