A primitive economy consists of a fishing industry and an oil industry. A unit of fishing industry output requires 0.30 unit of fishing industry input and 0.35 unit of oil industry input. A unit of oil industry output requires inputs of 0.04 unit of fishing products and 0.10 unit of oil products. (a) Write the technology matrix for this primitive economy.     Fishing             Oil                     Fishing Oil (b) If surpluses of 10 units of fishing products and 545 units of oil products are desired, find the gross production of each industry. fishing     units oil     units

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.3: Matrix Algebra
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A primitive economy consists of a fishing industry and an oil industry. A unit of fishing industry output requires 0.30 unit of fishing industry input and 0.35 unit of oil industry input. A unit of oil industry output requires inputs of 0.04 unit of fishing products and 0.10 unit of oil products.

(a) Write the technology matrix for this primitive economy.
   
Fishing             Oil
 
 
 
    
    
 
  
Fishing
Oil


(b) If surpluses of 10 units of fishing products and 545 units of oil products are desired, find the gross production of each industry.
fishing     units
oil     units
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