Question
The economy of a developing nation is based on agricultural products, steel, and coal. An output of one ton of agricultural products required an input
The economy of a developing nation is based on agricultural products, steel, and coal. An output of one ton of agricultural products required an input of 0.4 tons of agricultural products, 0.20 tons of steel, and 0.25 tons of coal. As output of one ton of steel requires an input of 0.16 tons of agricultural products, 0.19 tons of steel, and 0.16 tons of coal. An output of one ton of coal requires an input of 0.20 tons of agricultural products, 0.25 tons of steel, and 0.14 tons of coal. Write the technological matrix for this economy. Find the necessary gross productions to provide surpluses of 2750 tons of agricultural products, 5500 tons of steel, and 1250 tons of coal.
Make sure you write down the technology matrix A.
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