Assume that an economy is based on two industrial sectors, agriculture (A) and energy (E). The technology matrix M and final demand matrices (in billions of dollars) are shown below.AE-]0.4 0.44D =AM =E0.4 0.4Find (I - M)- and the output for each sector, X, that is needed to satisfy the final demand, D......Select the correct choice below and, if necessary, fill in the answer box to complete your choice.A. (I-M)-1=(Simplify your answer.)%3DB. The matrix (I – M) is singular.

Answer: Given, M=0.40.40.40.4D=43 I-M=1001-0.40.40.40.4I-M=0.6-0.4-0.40.6The formula of (I-M)-1 is…

Assume that an economy is based on two industrial sectors, agriculture (A) and energy (E). The technology matrix M and final demand matrices (in billions of dollars) are shown below. A 0.4 0.4 4. D= 3 A M = 0.4 0.4 Find (I – M)-1 and the output for each sector, X, that is needed to satisfy the final demand, D. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. (1-M)-1 = (Simplify your answer.) O B. The matrix (I- M) is singular.

Assume that an economy is based on two industrial sectors, agriculture (A) and energy (E). The technology matrix M and final demand matrices (in billions of dollars) are shown below. A 0.4 0.4 4. D= 3 A M = 0.4 0.4 Find (I – M)-1 and the output for each sector, X, that is needed to satisfy the final demand, D. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. (1-M)-1 = (Simplify your answer.) O B. The matrix (I- M) is singular.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 9E

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