Consider a simple economy with just two industries: coal and steel. Coal Industry consumes 1/5 of the its own and 7/10 of the steel industry. Steel industry consumes 4/5 of the coal industry and 3/10 of its own. Assume that the economy is closed and in equilibrium and x and y are outputs of coal and steel industry. System of linear equations is given by:

Consider a simple economy with just two industries: coal and steel. Coal Industry consumes 1/5 of the its own and 7/10 of the steel industry. Steel industry consumes 4/5 of the coal industry and 3/10 of its own. Assume that the economy is closed and in equilibrium and x and y are outputs of coal and steel industry. System of linear equations is given by:

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

Consider a simple economy with just
two industries: coal and steel. Coal
Industry consumes 1/5 of the its own
and 7/10 of the steel industry. Steel
industry consumes 4/5 of the coal
industry and 3/10 of its own. Assume
that the economy is closed and in
equilibrium and x and y are outputs
of coal and steel industry. System of
linear equations is given by:
O -4x/5+7y/10=0, 4x/5-7y/10=0
O -4x/5+3y/10=0, 4x/5-7y/10=0
O x/5+7y/10=0. x/5+3y/10=0
d. x/5-7y/10-0, 4x/5=7y/10=0

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