Assume an economy with 3 industries. To produce $1 of the output of industry I requires $0.4 worth of industry II, $0.3 worth of industry III and $0.1 of its own product. To produce $1 of the output of industry II requires $0.3 worth of industry I, $0.3 worth of industry III and $0.2 worth of its own product. To produce $1 of the output of industry III requires $0.5 worth of industry II, $0.2 worth of industry I and $0.2 worth of its own product. The annual final demands for outputs of the sectors are $100, $150 and $200 billion, respectively. Determine the output of industry I and the amount of primary input necessary to produce the output of industry I.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Assume an economy with 3 industries. To produce $1 of the output of industry I
requires $0.4 worth of industry II, $0.3 worth of industry III and $0.1 of its own
product. To produce $1 of the output of industry II requires $0.3 worth of
industry I, $0.3 worth of industry III and $0.2 worth of its own product. To
produce $1 of the output of industry III requires $0.5 worth of industry II, $0.2
worth of industry I and $0.2 worth of its own product. The annual final demands
for outputs of the sectors are $100, $150 and $200 billion, respectively.
Determine the output of industry I and the amount of primary input necessary to
produce the output of industry I.
Transcribed Image Text:Assume an economy with 3 industries. To produce $1 of the output of industry I requires $0.4 worth of industry II, $0.3 worth of industry III and $0.1 of its own product. To produce $1 of the output of industry II requires $0.3 worth of industry I, $0.3 worth of industry III and $0.2 worth of its own product. To produce $1 of the output of industry III requires $0.5 worth of industry II, $0.2 worth of industry I and $0.2 worth of its own product. The annual final demands for outputs of the sectors are $100, $150 and $200 billion, respectively. Determine the output of industry I and the amount of primary input necessary to produce the output of industry I.
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