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with detailed solution typewritten ill rate later reference on comment section 2. (1 Opts.) In a three-industry economy, it is known that Industry I uses

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with detailed solution typewritten ill rate later reference on comment section

image text in transcribed

2. (1 Opts.) In a three-industry economy, it is known that Industry I uses 20 cents of its own product, 40 cents of Commodity II, and 10 cents of Commodity III to produce a dollar's worth of Commodity I; Industry II uses 30 cents of Commodity I, 10 cents of its own product and 30 cents of Commodity III in producing a dollar's worth of Commodity II; Industry III uses 20 cents of Commodity I, 20 cents ofCommodity II and 20 cents of its own product to produce a dollar's worth of Commodity III; and the open sector demands S30 billion of Commodity I, S 15 billion of Commodity II, and SIO billion of Commodity 111. a. b. c. d. e. Write out the input matrix, the Leontief matrix, and the specific input-output matrix equation for this economy. Check whether the data satisfies the Hawkins-Simon condition. Find the solution output levels by matrix inversion. Find the solution output levels by Cramer's rule. Compute for the total amount of primary input in the economy. Is the required output vector d feasible?

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