The input-output matrix for a simplified economy with just three sectors (natural resources, manufacturing, and trade and services) is given below. Natural Resources Manufacturing Trade and Services 0.1045 0.0427 0.0029 Natural Resources Manufacturing Trade and Services 0.0825 0.0866 451 D= 300 126 0.1086 0.1018 0.0583 0.2033 Suppose the demand (in millions of dollars) matrix is the matrix D, shown below. Find the amount each sector should produce. Production levels of units from natural resources, (Round to the nearest whole number as needed.) ... units from manufacturing, and units from trade and services are needed.
The input-output matrix for a simplified economy with just three sectors (natural resources, manufacturing, and trade and services) is given below. Natural Resources Manufacturing Trade and Services 0.1045 0.0427 0.0029 Natural Resources Manufacturing Trade and Services 0.0825 0.0866 451 D= 300 126 0.1086 0.1018 0.0583 0.2033 Suppose the demand (in millions of dollars) matrix is the matrix D, shown below. Find the amount each sector should produce. Production levels of units from natural resources, (Round to the nearest whole number as needed.) ... units from manufacturing, and units from trade and services are needed.
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 23EQ:
23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...
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