The economy of a small island nation is based on two sectors, agriculture and tourism. Production of
Fantastic news! We've Found the answer you've been seeking!
Question:
The economy of a small island nation is based on two sectors, agriculture and tourism. Production of a dollar's worth of agriculture requires an input of
$ 0.35
from agriculture and
$ 0.40
from tourism. Production of a dollar's worth of tourism requires an input of
$ 0.43
from agriculture and
$ 0.12
from tourism. Find the output from each sector that is needed to satisfy a final demand of
$ 35
million for agriculture and
$ 39
million for tourism.
Posted Date: