Question
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 $0.35 from coal and $0.40 from steel. Production of a dollar's worth of steel requires an input of $0.43 from coal and $0.12 from steel. Find the output from each sector that is needed to satisfy a final demand of
$29 million for coal and $38 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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