3. Consider an economic model with three industries: agriculture, man- ufacturing and energy. The model has Leontief input-output matrix [0.6 0.1 0.1] A = 0.2 0.4 0.2 0.1 0.4 0.2 (With the columns corresponding to the industries in the order listed). (a) If there is external demand for 800 units from agriculture, 1600 units from manufacturing and 400 from energy then calculate the total production required from each sector to meet this demand. (Note that you must show the matrix equation that you are solv- ing, but calculations can be done using technology.) (b) How many units of production are used by each of the three industries to meet this demand?

3. Consider an economic model with three industries: agriculture, man- ufacturing and energy. The model has Leontief input-output matrix [0.6 0.1 0.1] A = 0.2 0.4 0.2 0.1 0.4 0.2 (With the columns corresponding to the industries in the order listed). (a) If there is external demand for 800 units from agriculture, 1600 units from manufacturing and 400 from energy then calculate the total production required from each sector to meet this demand. (Note that you must show the matrix equation that you are solv- ing, but calculations can be done using technology.) (b) How many units of production are used by each of the three industries to meet this demand?

Elementary Linear Algebra (MindTap Course List)

8th Edition

ISBN:9781305658004

Author:Ron Larson

Publisher:Ron Larson

Chapter2: Matrices

Section2.6: More Applications Of Matrix Operations

Problem 11E

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