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Please solve using matrixes. . An economy has three industries, farming, building, and clothing. For every $1 of food produced, the farmer uses $.20, the
Please solve using matrixes.
. An economy has three industries, farming, building, and clothing. For every $1 of food produced, the farmer uses $.20, the builder uses $.15, and the tailor $.05. For every $1 worth of building, the builder uses $.25, the farmer uses $.20, and the tailor $.10. For every $1 worth of clothing, the tailor uses $.10, the builder uses $.20, the farmer uses $.15. If the external demand for food is $100 million, for building $200 million, and for clothing $300 million, what should be the total production for each in dollars? Suppose an economy consists of three industries F.C, and T.The following table gives information about the internal use of each industry's production and external demand in dollars F T F 30 1020 20 C Total 100 120 110 Demand 20 30 50 T 10 13060 Find the proportion of the amounts consumed by each of the industries, that is, find the matrix 10. If in the preceding problem, the consumer demand for F, C, and Tbecomes 60, 80, and 100, respectively, find the total output and the internal use by each industry to meet that demandStep by Step Solution
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