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Just Answer part B please Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 60%
Just Answer part B please
Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 40% to Energy, 15% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 25% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 20% to Lumber, 50% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. Mining Lumber Energy Transportation Purchased by: 0.30 0.10 0.20 0.10 Mining 0.10 0.35 0.15 0.20 Lumber 0.60 0.40 0.50 Energy 0.00 0.15 0.25 0.20 Transportation (Type integers or decimals.) 0.40 b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM, PL, PE, and PT, respectively. PL = $ and PE If pt = $100, then PM = (Round to the nearest dollar as needed.) Enter your answer in the edit fields and then click Check Answer. Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 40% to Energy, 15% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 25% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 20% to Lumber, 50% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. Mining Lumber Energy Transportation Purchased by: 0.30 0.10 0.20 0.10 Mining 0.10 0.35 0.15 0.20 Lumber 0.60 0.40 0.50 Energy 0.00 0.15 0.25 0.20 Transportation (Type integers or decimals.) 0.40 b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM, PL, PE, and PT, respectively. PL = $ and PE If pt = $100, then PM = (Round to the nearest dollar as needed.) Enter your answer in the edit fields and then click CheckStep by Step Solution
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