Suppose that the economy of a small nation has an electronics industry, a steel industry, and an auto industry, with the following technology matrix. ES A 0.6 0.2 0.2] Electronics A - 0.1 0.4 0.5 Steel 0.1 0.2 0.2 Autos If the nation wishes to have surpluses of 80 units of electronics production, 255 units of steel production and 240 automobiles, find the gross production of each industry. electronics units steel units autos units
Suppose that the economy of a small nation has an electronics industry, a steel industry, and an auto industry, with the following technology matrix. ES A 0.6 0.2 0.2] Electronics A - 0.1 0.4 0.5 Steel 0.1 0.2 0.2 Autos If the nation wishes to have surpluses of 80 units of electronics production, 255 units of steel production and 240 automobiles, find the gross production of each industry. electronics units steel units autos units
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter22: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 4CQ
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