An economy is based on two industrial sectors, agriculture and fabrication. Production of a dollars worth of
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An economy is based on two industrial sectors, agriculture and fabrication. Production of a dollar’s worth of agriculture requires an input of $0.30 from the agriculture sector and $0.20 from the fabrication sector. Production of a dollar’s worth of fabrication requires $0.10 from the agriculture sector and $0.40 from the fabrication sector.
(A) Find the output for each sector that is needed to satisfy a final demand of $50 billion for agriculture and $20 billion for fabrication.
(B) Find the output for each sector that is needed to satisfy a final demand of $80 billion for agriculture and $60 billion for fabrication.
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Related Book For
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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