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9. (30 Points) An economy is based on 3 sectors, electricity, natural gas, and oil. Production of a dollar's worth of electricity requires an input
9. (30 Points) An economy is based on 3 sectors, electricity, natural gas, and oil. Production of a dollar's worth of electricity requires an input of $0.30 from electricity, $0.10 from natural gas, and $0.20 from oil. Production of a dollar's worth of natural gas requires an input of $0.30 from electricity, $0.10 from natural gas, and $0.20 from oil. Production of a dollar's worth of oil requires an input of $0.10 from electricity, $0.10 from natural gas, and $0.10 from oil. Find the output from each sector that is needed to satisfy a final demand of $25 billion for electricity, $15 billion for natural gas, and $20 billion for oil. a. Identify the technology matrix and label its parts appropriately. b. Identify the final demand matrix. C. Set up the appropriate equation and solve for the total output for agriculture and fabrication. USE ADDITIONAL SHEETS IF NEEDED. Please be neat. I will not try to "decipher" sloppy work. NOTE: You do not need to find the inverse by hand. Use your calculator
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