Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below. P M A = 0.6 0.2 0.2 0.4 Products Machinery If surpluses of 80 units of farm products and 5 units of farm machinery are desired, find the gross production of each industry.

Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below. P M A = 0.6 0.2 0.2 0.4 Products Machinery If surpluses of 80 units of farm products and 5 units of farm machinery are desired, find the gross production of each industry.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter13: General Equilibrium And Welfare

Section: Chapter Questions

Problem 13.9P

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