A Homework 4.5 - MA 114, section X + 0 X ed] Th X R Inverse Ma x |+ X G 9 webassign.net/web/Student/Assignment-Responses/submit?dep=33579766&tags=autosave#question2342552... Q $/Applied-Mathematics/20322611-... Q M 8. [0/16 Points] DETAILS PREVIOUS ANSWERS MY NOTES This exercise requires the use of technology. hnology. Four sectors of the... Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars). 1711.49 498.15 0 185823 Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $1,000 million, how they would react to an increase in demand for 140.822 Therefore, the change in production other agricultural products (Sector 2) of $1,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of 1711.49 498.15 dollars.) 0 185823 140.822 X X X X Determine react to an increase in demand for other X X X X gricultural products (Sector 2) of $1.500 millsce. 1300 X X X X Recall that the product formula is given by. X 1x X X -(1-AND 1.14099 0 0020536 0.0131617 0 7 0.0208561 0.3321 1.04733 0.026047 0.11118 To 1 2 3 0.000123882 0.000126274 103119 0.00134088 4 0.0938815 0.0956941 0 0.215501 1.01615 3.0804 From 1 11,937 9 109 855 1570.995 0.189411 26,649 143 541 1,285 0 4,744 Therefore, the change in produ 3.0804 3 439 61 1570.995 0. 189413 4 5,423 143.541 10,952 3,002 216 Total Output | 97,795 120,594 14,642 47,473 Determine react to an increase in demand for forestry and fishery products (Sector 3) of $1,500 million. [ o ] Need Help? Practice It =1500 Recall that the product formula is given by. X = (1-AND Viewing Saved Work Revert to Last Response 1.14099 0 0020536 0.0131617 0.0208661 0 Submit Answer 0.3321 1.04733 0.000123882 0.000126274 103119 0.00134088 1500 0.0935815 0.0956941 0.215501 1.01615 19.7426 39.0705 323.252 Home My Assignments Therefore, the change in production to meet the increase in demand is, 19.7426 39 0705 1546.79 323 252 . Last saved Tuesday, February 27, 2024 at 10:22 PM X Determine react to an increase in demand for forestry and fishery products (Sector 4) of $1,500 million 1 60 F Cloudy Q Search W 10:22 PM 2/27/2024To solve this problem, we need to use the Leontief input-output model, which can be represented by the equationz = (I A)~1y, where: * x is the vector of final demand for each sector. * I isthe identity matrix. * A is the matrix of coefficients representing the proportion of each sector's output used as inputs by other sectors. * yis the vector of initial demand. Given that the initial input-output table is: (T 1 [ 2 [ 3 [ 4 PP ALY ! And the initial demand vector y is: Let's calculate the final matrix values for the chart. To calculate the final demand for each sector after an increase in demand for each sector, we will use the Leontief input-output model: 1. Increase in demand for Livestock (Sector 1) by $1,000 million: New demand vector y becomes: Calculate the new final demand vector z: x=(I-A)"'y . Increase in demand for Other Agricultural Products (Sector 2) by $1,000 million: New demand vector iy becomes: 00 i i Calculate the new final demand vector x: Y V) 3. Increase in demand for Forestry and Fishery Products (Sector 3) by $1,000 million: New demand vector y becomes: I 0 Calculate the new final demand vector x: z=(I-A)"y 1. Increase in demand for Agricultural, Forestry, and Fishery Services (Sector 4) by $1,000 million: New demand vector y becomes: i i i 1,000 Calculate the new final demand vector x: RO VT