Answered: The economy of a small island nation is…

Name: The economy of a small island nation is based on two sectors, agricul
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Description: The economy of a small island nation is based on two sectors, agriculture and tourism. Production of a dollar's worth of agriculture requires an input of $0.39 from agriculture and $0.44 from tourism. Production of a dollar's worth of tourism requ

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 27EQ

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The economy of a small island nation is based on two sectors, agriculture and tourism. Production of a dollar's worth of agriculture requires an input of $0.39 from agriculture and $0.44 from tourism. Production of a dollar's worth of tourism requires an input of $0.43 from agriculture and $ 0.28 from tourism. Find the output from each sector that is needed to satisfy a final demand of $40 million for agriculture and $74 million for tourism.

is 47420000 and 38320000 correct?

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