A simple closed economy of Swaziland has three sectors; agriculture, steel and household. Producing 1 unit of agricultural product requires 0.4 units of agricultural product, 0.2 units of steel, and 0.4 units of household. Producing 1 unit of steel requires 0.3 units of agricultural product, 0. 4 units of steel, and 0.3 units of household. Producing 1 unit of household requires 0.4 units of agricultural product, 0.2 units of steel, and 0.4 units of household. a) Create the technology matrix for this economy. b) Find the total output of three sectors of the economy.?
A simple closed economy of Swaziland has three sectors; agriculture, steel and household. Producing 1 unit of agricultural product requires 0.4 units of agricultural product, 0.2 units of steel, and 0.4 units of household. Producing 1 unit of steel requires 0.3 units of agricultural product, 0. 4 units of steel, and 0.3 units of household. Producing 1 unit of household requires 0.4 units of agricultural product, 0.2 units of steel, and 0.4 units of household. a) Create the technology matrix for this economy. b) Find the total output of three sectors of the economy.?
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 27EQ
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1. A simple closed economy of Swaziland has three sectors; agriculture, steel and household. Producing 1 unit of agricultural product requires 0.4 units of agricultural product, 0.2 units of steel, and 0.4 units of household. Producing 1 unit of steel requires 0.3 units of agricultural product, 0. 4 units of steel, and 0.3 units of household. Producing 1 unit of household requires 0.4 units of agricultural product, 0.2 units of steel, and 0.4 units of household. a) Create the technology matrix for this economy. b) Find the total output of three sectors of the economy.?
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