Suppose that in a certain local economy we have automobiles and aircraft industries. To produce one dollar in output, each industry needs the following input: The automobiles industry requires $0.4$ from itself and $0.3 from aircraft. The aircraft industry requires $0.2 from automobiles and $0.5 from itself. Suppose further that total production capacity of automobiles is $400 and of aircraft is $500. Find the external demand which can be met. Write the exact answer. Do not round. $_____ from automobiles $_____ from aircraft
Suppose that in a certain local economy we have automobiles and aircraft industries. To produce one dollar in output, each industry needs the following input: The automobiles industry requires $0.4$ from itself and $0.3 from aircraft. The aircraft industry requires $0.2 from automobiles and $0.5 from itself. Suppose further that total production capacity of automobiles is $400 and of aircraft is $500. Find the external demand which can be met. Write the exact answer. Do not round. $_____ from automobiles $_____ from aircraft
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 24EQ: Suppose the coal and steel industries form a closed economy. Every $1 produced by the coal industry...
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Suppose that in a certain local economy we have automobiles and aircraft industries. To produce one dollar in output, each industry needs the following input:
- The automobiles industry requires $0.4$ from itself and $0.3 from aircraft.
- The aircraft industry requires $0.2 from automobiles and $0.5 from itself.
Suppose further that total production capacity of automobiles is $400 and of aircraft is $500. Find the external demand which can be met. Write the exact answer. Do not round.
$_____ from automobiles
$_____ from aircraft
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