Given the following technology matrix for a two sector economy:[0.4 01A =0.7 0.6The final demand targets for two industries are Ş:50 crores and $ !00 croresrespectively. Find the gross output of each industry.

Answer is given in the picture:

Given the following technology matrix for a two sector economy: 0.4 01 A = 0.7 0.6 The final demand targets for two industries are $:50 crores and $ !00 crores respectively. Find the gross output of each industry.

Given the following technology matrix for a two sector economy: 0.4 01 A = 0.7 0.6 The final demand targets for two industries are $:50 crores and $ !00 crores respectively. Find the gross output of each industry.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Construct the consumer price index number for 2017 on the basis of 2016 from the following data usin...

A: Consumer price Index = ∑RW∑Wwhere R is relative price and W is weightR= P1P0×100

Q: What is the impact on the labour market due to a reduction the productivity of workers? Select one: ...

A: We know that, When the productivity of workers increases at any given wage rate the firms demand mor...

Q: DRAW CASH FLOW DIAGRAM Suppose that P 4500 is deposited each year into a bank account that pays 8% i...

A: A series of money paid at regular intervals is known as an annuity. Monthly savings account deposits...

Q: Consider a competitive market for which the quantities demanded and supplied (per year) at various p...

A: Given information:

Q: What will be the demand deposits as cash reserve ratio is 18.5% and the cash reserves operating in t...

A: Initially in the given question, We need to calculate the demand deposit = ? Cash reserve ratio are ...

Q: Calculate the total revenue if the firm produces 4 versus 3 units. Then, calculate the marginal reve...

A: * SOLUTION :-

Q: Firms that can effectively price discriminate can increase profitability when they engage in predato...

A: Varying audiences pay different prices for the same goods, which is known as price discrimination. T...

Q: 4 Suppose that a person’s demand curve for physician office visits is P = 200 – 20Q, where P is the ...

Q: ABC Company makes its policy that for every new piece of equipment purchased, the annual depreciatio...

A: Below is the given value: The annual depreciation should not be more than = 25% Salvage value = 0

Q: Suppose country A has five families. Their incomes are $10,000, $20,000, $30,000, $40,000, and $50,0...

A: Given: The number of families is = 5 Income of the families are $10,000, $20,000, $30,000, $40,000, ...

Q: 1. How does the demand curve faced by a pure monopolist seller differ from that confronting a purely...

A: We know that There are many customers and sellers fighting against each other in a perfect competiti...

Q: t6Q*t cQ+d a Find: minimum of mc and QM- mC Min= Qm= B) Find miniMUM AVC, AVCmin,and the output whee...

A: Marginal cost is teh additional change in total cost due to an additional unit of production. Where...

Q: Answer the question on the basis of the following table for a particular country in which C is consu...

A: Real GDP = C + I + G + X - M Price Level C I G X M Real GDP 128 18 2 3 1 5 19 125 20 4 3 2 4 ...

Q: b. The change that takes place between 2018 and 2019 could be caused by (Click to select) v stabiliz...

A: Please find the answer below.

Q: a. Draw the MSB and MSC curves on the graph below, assuming that the external benefits are estimated...

A: Hi! Thank you for the question, as per the honour code, we are allowed to answer three sub-parts at ...

Q: 7. The graphs below show the production possibilities frontiers for grapes and lemons in Spain and A...

A: Given; Term of trade:- 1 million tons of grapes= 0.2 million tons of lemon 1 million tons of lemon= ...

Q: Predict how each of the following economic changes will affect the equilibrium price and quantity in...

A: The price and quantity are determined when demand and supply meet at a point, similarly, the rate of...

Q: Suppose producers bear most of the burden of a specific tax of 20 cents on staplers. Which ONE state...

A: The profit which is procured by a firm or person when one extra or negligible unit is delivered and ...

Q: The U.S. economy is experiencing a recession. In order to smooth the economy the Federal Reserve wou...

A: The money supply basically refers to the total quantity of currency and other liquid assets in a co...

Q: (Figure: Market) A quota of 25 units is placed on the market that is shown in the figure. The quota ...

A: The markets are the place where the buyers of the goods, and services tend to meet and interact with...

Q: (Figure: Market Demand Curve I) The graph shows the market demand curve. Prike (S) 40 36 32- 28 24 2...

A: Simply in the given question the Bertrand competition is generally considered as a model of competit...

Q: Consider the following economy : C=100+0.8 Y I= 50 - 25i G= T= 50 M' -=200 Md = Y – 25 i 1. Calculat...

A: Answer: Introduction: Therefore Y = 800-12i

Q: An optional question to give you more practice solving games. Consider the following one-shot simult...

Q: coupon bond, with semiannual coupons, face value of 1,000, 20 years to maturity, $1,197.93 price. Cu...

A: Use the below formula to find the current yield: Current Yield = Annual coupon amountPrice Consider ...

Q: Indars population rose from 68 crore in 1981 to 84 crore in 1991. Find the compound annual growth ra...

Q: 1. Consider the following game in strategic or normal form. A2 B2 C2 A1 1,0 1,2 -2,1 B1 6,2 0,3 2,3 ...

A: Iterative elimination method of finding Nash equilibrium points involves eliminating all the strictl...

Q: In the 1981 census, the population of Indarin was found to be 6.7 x 10'. increases at the rate of 2....

A: Answer: Introduction part:

Q: years, 9. Compute the Human Development Index (HDI) in a country with a life expectancy of 80 mean y...

Q: The manager of a local monopoly estimates that the elasticity of demand for its product is constant ...

A: Monopoly refers to the market in which a firm charges the higher price above the marginal cost such ...

Q: A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x) = 67...

A: Answer -

Q: 7. Refer to Exhibit 3-1. At a price of $2 there is a a. shortage of 100 units. b. shortage of 200 un...

A: Supply and demand are the economic dynamics that determine what suppliers are willing to produce and...

Q: Profit-maximizing monopolies are inefficient because Select one: O a. they practice price discrimina...

A: Monopolistic competition is a market system in which many businesses exist in the same industry and ...

Q: For an economy the following data is given : Consumption (C) Investment (I) Efample = 100 + 0.8 Y. =...

A: Given data is: Hence y= 812.5

Q: Find the present value of an annuity of $2,000 payable at the end of each year for 10 years, if the ...

A: Answer is given:

Q: 3. The effect of negative externalities on the optimal quantityof consumption Consider the market fo...

A: Equilibrium quantity and price is where the demand(private value) is intersecting with supply(privat...

Q: U.S. import transactions create: a foreign demand for dollars and the satisfaction of this demand...

A: International trade helps in integration of the world economy through trade and commerce. Internatio...

Q: 6. Deriving the short-run supply curve Consider the competitive market for sports jackets. The follo...

A: A competitive market is one in which numerous producers compete with one another in the hopes of pr...

Q: Compare different types of economic systems

A: Different economies of the world have different economic system depending upon various factors like ...

Q: a. Draw the marginal cost and average total cost curves for a typical firm. Explain why the curves h...

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: r=0% on deposits. Consumer needs to borrow $50 loan and the consumer has uncertain income of y=50,80...

Q: dump truck was bought for P $ 30,000 six years ago. It will have a salvage value of $ 3,000 four ye...

A: Given, Purchase value = 30,000 Salvage value = 3000 Useful life = 10 years (6 year already gone + 4...

Q: How does the hypothesis of diminishing returns (MP& AP) influence the behaviour of costs (MC& AC)?

A: Costs refers to the amount of money needed to produce goods and services by a firm. These costs may ...

Q: In the figure below, Sai is the long-run domestic supply curve of oil without considering the climat...

A: A country becomes an importer when the world price is less than equilibrium price.

Q: The price elasticity of demand for a monopolist’s product is –0.7. Advise the firm on its pricing st...

A: The monopolist's inelastic demand is represented by the negative sign of the monopoly.

Q: Consumer has utility function In(c1)+beta'In(c2), where beta=1. Interest rate i=0%. (NOTE!) Income y...

A: The lifetime budget constraint is Y1 + {Y2/(1 + r)} = C1 + {C2/(1 + r)} Utility maximizing consumpti...

Q: Consider the compound interest equation B(t) = 100(1.1664)'. Assume that n = 2, and rewrite B(t) in ...

A: Answer -

Q: (In this and all other questions in which a game matrix is given, Player 1 chooses the row, Player 2...

A: Iterated elimination of strictly dominated strategies (IESDS) The iterated elimination (or deletion)...

Q: Imagine a very small economy in which there are only four people and only one product. William is wi...

A: An individual will only buy the product if the price of the product is equal to or less than the ind...

Q: ) Assume that the output of a company is given by y (K, L) = K^0.5 * L^0.5, where the amount of capi...

A: (a). Y = K0.5L0.5Put A = 10, K =100 and L=400 Y = 10(100)0.5 (400)0.5 Y = 10 (10) (20) Y = 2000 ...

Q: The following graph shows the demand (D) for cable services in the imaginary town of Utilityburg. Th...

A: In a given industry, many companies compete, although they all produce comparable but distinct produ...

Question

Given the following technology matrix for a two sector economy:
[0.4 01
A =
0.7 0.6
The final demand targets for two industries are Ş:50 crores and $ !00 crores
respectively. Find the gross output of each industry.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Step by step

Solved in 4 steps with 4 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Explain in your words that how equilibrium is achieved in three sector economy? Please solve within 30 minutes and avoid plagiarism.
1. For each of the following production functions, determine if the tech- nology exhibits increasing, decreasing, or constant returns to scale. a. f(L;K)=L+Kb. f(L;K)=pL+pKc. f(L:K)=LK+L+Kd. f(L;K)=pKL+L+K
A19 Subject - economics Consider a constant returns-to-scale production function f(k, l). Show that f(k, l) = k ∂f/ ∂k + l ∂f /∂l
The graph below represents per-worker production functions for the same country. Answer the following questions using this graph. Which 1 concept explains that the area between B and C has a flatter slope than the area between A and B? Answer: Law of Diminishing Marginal Returns What has to happen for a country to move from point E to B to D? Answer: The movement through which 3 points (out of 5 given) would indicate the largest increase in productivity? Answer:
The “per person” versions of production functions: Write each productionfunction given below in terms of output per person y ; Y/L and capital perperson k ; K/L. Show what these “per person” versions look like in a graphwith k on the horizontal axis and y on the vertical axis. (Assume A is somefxed positive number.)(a) Y = K 1/3L2/3 and Y = K 3/4L1/4 (on the same graph) (b) Y = K(c) Y = K + AL(d) Y = K − AL
Most firms in the apparel and footwear industries choose to outsource production to countries where labor is abundant (primarily, Southeast Asia and the Caribbean)long dash—but those firms do not integrate with their suppliers there. On the other hand, firms in many capital-intensive industries choose to integrate with their suppliers. What could be some differences between the labor-intensive apparel and footwear industries on the one hand and capital-intensive industries on the other hand that would explain these choices? A multinational may prefer to
2.6 The Production Function and Emigration. During the potato famine, many workers left Ireland. Show how this affected output using a production function.
Consider now the two-period model in general equilibrium, so that prices, investment, and labor supply are endogenous, i.e. the production economy. Analyze and carefully explain graphically and in words the general equilibrium effects of a decrease in TFP for a benchmark economy with no frictions.
Show how a fall in the matching efficiency technology can effect output, wages, the unemployment and vacancy rates. How could economists differentiate this from a fall in labor productivity if they could view the four above pieces of data over many years? [In other words, how would these two events produce different patterns in the data?]
Explain the conditions that create a relationship between research and innovation as the most sought-after soft skills in the fast-paced global economy. Many of which we have recently discovered following new challenges posed by COVID19.
The information on three different technologies named as q, v and x is listed in the table below. Note that all of these technologies use different combinations of two types of factors of production, labor and capital, to produce 1000 units of output. Consider the first scenario where the per unit prices of the inputs, labor and capital are $50 and $25 respectively. Technology No of Labors Capital (tons) Cost value ($) A 10 50 B 30 20 C 50 10 Now imagine that a discovery has been made which has led to labor advancements leading to a reduction in per unit price of labor to $10, ceteris paribus. Which technology will a typical firm adopt under these changed circumstances and why? Using the value of costs found, what is the value of the economic rent for this firm?
Write the production function in its simplest form (human capital being included in TFP) and explain the nature of each factor as well the theoretical value of the parameter Alpha. In other words what does the value of Alpha represent regarding the returns of each factors of production?