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Consider a simplified economy broken into the following five sectors: agricultural, government, labor, manufacturing, and services. The following exchange table shows how the percentage output
Consider a simplified economy broken into the following five sectors: agricultural, government, labor, manufacturing, and services. The following exchange table shows how the percentage output of each sector is divided among the other sectors: To If the total output of the economy is $300 million, determine equilibrium prices for each of the sector's outputs (that is, determine how much each sector must output in order to balance its output with its expenses). To answer this question, develop an appropriate system of equations, translate it into a matrix, use MATLAB to row reduce the matrix, and then interpret the solution. Consider a simplified economy broken into the following five sectors: agricultural, government, labor, manufacturing, and services. The following exchange table shows how the percentage output of each sector is divided among the other sectors: To If the total output of the economy is $300 million, determine equilibrium prices for each of the sector's outputs (that is, determine how much each sector must output in order to balance its output with its expenses). To answer this question, develop an appropriate system of equations, translate it into a matrix, use MATLAB to row reduce the matrix, and then interpret the solution
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