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Consider an economy divided into an agricultural sector(A)and an industrial sector(I). To produce one unit in sectorArequires 1/6 unit fromAand 1/4 unit fromI. To produce
- Consider an economy divided into an agricultural sector(A)and an industrial sector(I). To produce one unit in sectorArequires 1/6 unit fromAand 1/4 unit fromI. To produce one unit in sectorIrequires 1/4 unit fromAand 1/4 unit fromI. Suppose final demands in each of the two sectors are 60 units.
- (a)Write down the Leontief system for this economy.
- (b)Findthenumberofunitsthathavetobeproducedineachsectorinordertomeetthefinal demands.
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Business Its Legal Ethical and Global Environment
Authors: Marianne M. Jennings
11th edition
1337103578, 978-1337514392, 133751439X, 978-0357690130, 978-1337103572
