(b) Suppose that the open sector has a demand for $1780 worth ofhousing, $3690 worth of food, and $5630 worth of utilities. Userow reduction to find a production vector that will meet thisdemand exactly.The production vector,?x =? Consider the open economy described by the accompanying table,where the input is in dollars needed for $1.00 of output.Input Required per Dollar OutputHousing Food UtilitiesHousing0.20.50.4Food0.20.10.3Utilities0.30.10.3(a) Find the comsumption matrix for the economy.??C =???? ?Provider

Answered: Image /qna-images/answer/d168849c-c621-44de-a63f-0024d19dd4d7.jpg

(b) Suppose that the open sector has a demand for $1780 worth of housing, $3690 worth of food, and $5630 worth of utilities. Use row reduction to find a production vector that will meet this demand exactly. The production vector, ? ?

(b) Suppose that the open sector has a demand for $1780 worth of housing, $3690 worth of food, and $5630 worth of utilities. Use row reduction to find a production vector that will meet this demand exactly. The production vector, ? ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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