Assume that an economy is based on three industrial sectors: agriculture (A), building (B), and energy (E). Thetechnology matrix M is: A BE uarruarruarr (4 [0.6 0.2 0.1 0.4 0.1 0.1 0.4] 0.1 0.1 B 0.1 M How muchinput from A, B, and E are required to produce a dollar's worth of output for B? How much input from A is required toproduce a dollar's worth of output for B? How much input from B is required to produce a dollar's worth of output forB? How much input from E is required to produce a dollar's worth of output for B ?Assume that an economy is based on three industrial sectors: agriculture (A), building (B), and energy (E). Thetechnology matrix M is:A BE↑↑ ↑A->0.6 0.2 0.1B->=M0.1 0.4 0.1E->0.1 0.1 0.4How much input from A, B, and E are required to produce a dollar's worth of output for B?How much input from A is required to produce a dollar's worth of output for B?How much input from B is required to produce a dollar's worth of output for B?How much input from E is required to produce a dollar's worth of output for B?

The objective of the question is to determine the amount of input from sectors A, B, and E required…

Answered: Assume that an economy is based on…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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