An economy is based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.30from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.30 from agriculture, $0.40from manufacturing, and $0.30 from energy.Find the output for each sector that is needed to satisfy a final demand of $10 billion for agriculture, $79 billion for manufacturing, and $80 billion for energy.

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Answered: An economy is based on three sectors,…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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The table shows the 2013 per capita total expenditure on health in 35 countries with the highest gross domestic product in 2013. Health expenditure per capita is the sum of public and private health expenditure (in PPP, international $) divided by population. Health expenditures include the provision of health services, family‑planning activities, nutrition activities, and emergency aid designated for health but exclude the provision of water and sanitation. Per Capita Total Expenditure on Health (International Dollars) Country Dollars Country Dollars Country Dollars Argentina 17251725 Indonesia 293293 Saudi Arabia 16811681 Australia 41914191 Iran 14141414 South Africa 11211121 Austria 48854885 Italy 31263126 Spain 28462846 Belgium 45264526 Japan 37413741 Sweden 42444244 Brazil 14541454 Korea, South 23982398 Switzerland 61876187 Canada 47594759 Malaysia 938938 Thailand 658658 China 646646 Mexico 10611061 Turkey 10531053 Colombia 843843 Netherlands 56015601 United…
A mining company owns two mines. These mines produce an ore that can be graded into two classes: regular grade and low grade. The company must produce at least 410 tons of regular-grade and 530 tons of low-grade ore per week. The first mine produces 6 tons of regular-grade and 16 tons of low-grade ore per hour. The second mine produces 20 tons of regular-grade and 10 tons of low-grade ore per hour. The operating cost of the first mine is $9000 per hour, and the operating cost of the second mine is $30,500 per hour. The first mine can be operated no more than 55 hours a week, and the second mine can be operated no more than 29 hours a week. How many hours per week should each mine be operated to minimize the cost? First Mine: __ hours Second Mine:__ hours
Subject: algebra
Economy has three industries A, B, and C. These industries have annual consumer sales of 40, 30, and 70 (in billions of dollars), respectively. For every dollar of goods, A Sellas, A requires 20 cents of goods from B and 10 cents of goods from C. For each dollar of goods B sells, B requires 25 cents of goods from A and 10 cents of goods from C. For each dollar of goods C sells, C requires 10 cents of goods from A and 15 cents of goods from B. Determine the total output required from each industry to meet both consumer and between industry demand. (a) Write a system of linear equations modeling the problem. (b) Use the augmented matrix to solve the problem. (c) Determine the total output required from each industry.
Agriculture Your small farm encompasses 110 acres, and you are planning to grow tomatoes, lettuce, and carrots in the coming planting season. Fertilizer costs per acre are: $5 for tomatoes, $4 for lettuce, and $2 for carrots. Based on past experience, you estimate that each acre of tomatoes will require an average of 4 hours of labor per week, while tending to lettuce and carrots will each require an average of 2 hours per week. You estimate a profit of $3,000 for each acre of tomatoes, $1,400 for each acre of lettuce and $450 for each acre of carrots. You would like to spend at least $440 on fertilizer (your niece owns the company that manufactures it) and your farm laborers can supply up to 550 hours per week. How many acres of each crop should you plant to maximize total profits? X acre(s) X acre(s) tomatoes lettuce carrots acre(s) profit In this event, will you be using all 110 acres of your farm? Yes No
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Succulent Citrus produces orange juice and orange concentrate. This year the company anticipates a demand of at least 12,000 quarts of orange juice and 1,500 quarts of orange concentrate. Each quart of orange juice requires 10 oranges, and each quart of concentrate requires 50 oranges. The company also anticipates using at least 270,000 oranges for these products. Each quart of orange juice costs the company 50¢ to produce, and each quart of concentrate costs $2.00 to produce. How many quarts of each product should Succulent Citrus produce to meet the demand and minimize total costs? orange juice qt qt orange concentrate
An economy consists of coal, electric, and steel industries. For each $1.00 of output, the coal industry needs $0.01 worth of coal, $0.20 worth of electricity, and $0.20 worth of steel; the electric industry needs $0.02 worth of coal, $0.04 worth of electricity, and $0.03 worth of steel; and the steel industry needs $0.30 worth of coal and $0.02 worth of steel. The sales demand is estimated to be $1 billion for coal, $3 billion for electricity, and $4 billion for steel. Suppose that the demand for electricity triples and the demand for coal doubles, whereas the demand for steel increases by only 50%. At what levels should the various industries produce in order to satisfy the new demand? Set up the input-output matrix. Coal Electric Steel Coal 0.01 0.02 0.30 Electric Steel 0.20 0.04 0.20 0.03 0 0.02 The coal industry should produce $ ☐ billion the electric industry should produce $ ☐ billion, and the steel industry should produce $ (Round the final answer to the nearest billion as…

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