An economy depends on two basic products, wheat and oil. To produce 1 metric ton of wheat requires 0.22 metric tons of wheat and 0.32 metric tons of oil. Production of 1 metric ton of oil consumes 0.08 metric tons of wheat and 0.14 metric tons of oil. Find the production that will satisfy a demand for 480 metric tons of wheat and 880 metric tons of oil. The input-output matrix is A= 0.22 0.08 0.32 0.14
An economy depends on two basic products, wheat and oil. To produce 1 metric ton of wheat requires 0.22 metric tons of wheat and 0.32 metric tons of oil. Production of 1 metric ton of oil consumes 0.08 metric tons of wheat and 0.14 metric tons of oil. Find the production that will satisfy a demand for 480 metric tons of wheat and 880 metric tons of oil. The input-output matrix is A= 0.22 0.08 0.32 0.14
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter6: Matrices And Determinants
Section: Chapter Questions
Problem 4CC
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Question
An economy depends on two basic products, wheat and oil. To produce 1 metric ton of wheat requires 0.22 metric tons of wheat and 0.32 metric tons of oil. Production of 1 metric ton of oil consumes 0.08 metric tons of wheat and 0.14 metric tons of oil.
Find the production that will satisfy a demand for 480 metric tons of wheat and 880 metric tons of oil. The input-output matrix is
A=
.
0.22 | 0.08 |
0.32 | 0.14 |
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