4. Suppose an economy has four sectors, Agriculture (A), En- ergy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest. Sector E sells 30% of its output to A, 35% to M, and 25% to T and retains the rest. Sector M sells 30% of its output to A, 15% to E, and 40% to T and retains the rest. Sector T sells 20% of its output to A, 10% to E, and 30% to M and retains the rest. a. Construct the exchange table for this economy. Tb. Find a set of equilibrium prices for the economy.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Production And Growth
Section: Chapter Questions
Problem 5CQQ
Question
Don't use Ai. Answer in step by step with explanation. Ggghhhgg
4. Suppose an economy has four sectors, Agriculture (A), En-
ergy (E), Manufacturing (M), and Transportation (T). Sector
A sells 10% of its output to E and 25% to M and retains the
rest. Sector E sells 30% of its output to A, 35% to M, and 25%
to T and retains the rest. Sector M sells 30% of its output to
A, 15% to E, and 40% to T and retains the rest. Sector T sells
20% of its output to A, 10% to E, and 30% to M and retains
the rest.
a. Construct the exchange table for this economy.
Tb. Find a set of equilibrium prices for the economy.
Transcribed Image Text:4. Suppose an economy has four sectors, Agriculture (A), En- ergy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest. Sector E sells 30% of its output to A, 35% to M, and 25% to T and retains the rest. Sector M sells 30% of its output to A, 15% to E, and 40% to T and retains the rest. Sector T sells 20% of its output to A, 10% to E, and 30% to M and retains the rest. a. Construct the exchange table for this economy. Tb. Find a set of equilibrium prices for the economy.
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