Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 20% of its output to Lumber, 70% to Energy, and retains the rest.Lumber sells 10% of its output to Mining, 50% to Energy, 20% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 20% toTransportation, and retains the rest. Transportation sells 25% of its output to Mining, 20% to Lumber, 40% to Energy, and retains the rest.a. Construct the exchange table for this economy.b. Find a set of equilibrium prices for this economy.a. Complete the exchange table below.Distribution of Output from:Mining Lumber Energy TransportationPurchased by:0.100.100.200.25Mining0.200.200.150.20Lumber0.45Energy0.700.500.400.15Transportation0.000.200.20(Type integers or decimals.)b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by pM: PL- PE, and pr, respectively.If pr = $100, then PM = S |. PL = S , and Pe = S(Round to the nearest dollar as needed.)

Name: Suppose an economy has four sectors: Mining, Lumber, Energy, and Tran
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Description: Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 20% of its output to Lumber, 70% to Energy, and retains the rest.Lumber sells 10% of its output to Mining, 50% to Energy, 20% to Transportation, and retain

a. Minning Lumber Energy Transportation Purchased by 0.1 0.1 0.2 0.25 Minning 0.2 0.2 0.15…

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Algebra

ppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 20% of its output to Lumber, 70% to Energy, and retains the rest. mber sells 10% of its output to Mining, 50% to Energy, 20% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 20% to ansportation, and retains the rest. Transportation sells 25% of its output to Mining, 20% to Lumber, 40% to Energy, and retains the rest. Construct the exchange table for this economy. Find a set of equilibrium prices for this economy. Complete the exchange table below. Distribution of Output from: Mining Lumber Energy Transportation Purchased by: 0.10 0.10 0.20 0.25 Mining 0.20 0.20 0.15 0.20 Lumber 0.70 0.50 0.45 0.40 Energy

ppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 20% of its output to Lumber, 70% to Energy, and retains the rest. mber sells 10% of its output to Mining, 50% to Energy, 20% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 20% to ansportation, and retains the rest. Transportation sells 25% of its output to Mining, 20% to Lumber, 40% to Energy, and retains the rest. Construct the exchange table for this economy. Find a set of equilibrium prices for this economy. Complete the exchange table below. Distribution of Output from: Mining Lumber Energy Transportation Purchased by: 0.10 0.10 0.20 0.25 Mining 0.20 0.20 0.15 0.20 Lumber 0.70 0.50 0.45 0.40 Energy

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 28EQ

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