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An economy consists of coal, electric, and steel industries. For each $1.00 of output, the coal industry needs $0.03 worth of coal, $0.20 worth of
An economy consists of coal, electric, and steel industries. For each $1.00 of output, the coal industry needs $0.03 worth of coal, $0.20 worth of electricity, and $0.20 worth of steel. The electric industry needs 0.04 worth of coal, $0.02 worth of electricity and $0.04 worth of steel. The steel industry needs $0.30 worth of coal and $0.03 worth of steel. The sales demand is estimated to be $2 billion for coal, $2 billion for electricity, and $2 billion for steel. Suppose that the demand for electricity triples and the demand for coal doubles, whereas the demand for steel increases by only 50%. At what levels should the various industries produce in order to satisfy the new demand?
0. An com www com sucedidonte. For 100 of the the cost o we ws020 and 0.20 was the best to whom estety, ant 50.0 worth of and the way media soso worth of God and so wirts of the sales demand is estimated to be 32 bir force 12 honor and then for some that the vecintay triples and the demand for con double where the demand for someosts by only 60% whatever thould the nous indutin produse in order to the demand? Beli Cew Eletres Crisi 03 004 0.00 El 020 002 0.00 820 BE They out routitor te lerentusty thout produce in, and the shelter protesto Rundefined Round the moments of the town on me Set up the input-output matrix. Coal Electric Steel Coal 0.03 0.04 0.30 Electric 0.20 0.02 0.00 Steel 0.04 0.03 The coml industry should produce s billion the electric industry should produce $billion, and the steel industry should produce $ bilion. (Round the final answer to the nearest billion as needed. Round the elements of the inverse matrix to two decimal places as needed.) 0.20 Step by Step Solution
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