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The economy of a small island nation is based on two sectors, coal and steel. Production of a dollar's worth of coal requires an input
The economy of a small island nation is based on two sectors, coal and steel. Production of a dollar's worth of coal requires an input of $0.18 from coal and $0.21 from steel. Production of a dollar's worth of steel requires an input of $0.46 from coal and $0.12 from steel. Find the output from each sector that is needed to satisfy a final demand of $26 million for coal and $52 million for steel. The output from the coal sector is approximately $ million. (Round to the nearest million.) The output from the steel sector is approximately $ | million. (Round to the nearest million.)
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