2. Suppose we consider a simple economy as being based on three industries: industry 1, industry 2 and industry 3. Suppose the table below summarizes the units of inputs required to produce one unit of each product. Furthermore, it is assumed that the economy wishes to have a surplus of 50 units of industry 1 products, 80 units of industry 2 goods, and 25 units of industry 3. Outputs Industry 2 Industry 1 Industry 3 Inputs Industry 1 Industry 2 Industry 3 Find the total output of each industry 0.3 0.2 0.4 0.5 0.1 0.2 0.6 0.4 0.5

2. Suppose we consider a simple economy as being based on three industries: industry 1, industry 2 and industry 3. Suppose the table below summarizes the units of inputs required to produce one unit of each product. Furthermore, it is assumed that the economy wishes to have a surplus of 50 units of industry 1 products, 80 units of industry 2 goods, and 25 units of industry 3. Outputs Industry 2 Industry 1 Industry 3 Inputs Industry 1 Industry 2 Industry 3 Find the total output of each industry 0.3 0.2 0.4 0.5 0.1 0.2 0.6 0.4 0.5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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