An economy has three industries, farming, building, and clothing. For every dollar of food produced, the farmers use $0.06, the builders use $0.06, and the tailors use $0.09. For every dollar of building, the builders use $0.04, the farmers use $0.15, and the tailors use $0.11. For every dollar of clothing produced, the tailors use $0.14, the builders use $0.06, and the farmers use $0.04. If the external demand for food is $100 million, for building is $100 million, and for clothing is $280 million, what should be the total production for each industry? Farming production $ Building production $ million million Clothing production - S million

An economy has three industries, farming, building, and clothing. For every dollar of food produced, the farmers use $0.06, the builders use $0.06, and the tailors use $0.09. For every dollar of building, the builders use $0.04, the farmers use $0.15, and the tailors use $0.11. For every dollar of clothing produced, the tailors use $0.14, the builders use $0.06, and the farmers use $0.04. If the external demand for food is $100 million, for building is $100 million, and for clothing is $280 million, what should be the total production for each industry? Farming production $ Building production $ million million Clothing production - S million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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