Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Chemicals sells 30% of its output to Fuels and 60% to Machinery and retains the rest. Fuels sells 70% of its outputto Chemicals and 20% to Machinery and retains the rest. Machinery sells 40% of its output to Chemicals and 30% to Fuels and retains the rest. Complete parts (a) through (c) belowa. Construct the exchange table for this economy.Distribution of Output from:ChemicalsFuelsMachinery(Type integers or decimals.)Purchased by:ChemicalsFuelsMachinery

An exchange table is a matrix used in economics to represent the flow of goods or services between…

Answered: Consider an economy with three sectors,…

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...

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23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes 1/2 of the food and 1/3 of the manufactured goods. Manufacturing consumes 1/2 of the food and 2/3 of the manufactured goods. Assuming the economy is closed and in equilibrium, find the relative outputs of the farming and manufacturing industries.
Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Chemicals sells 30% of its output to Fuels and 50% to Machinery and retains the rest. Fuels sells 70% of its output to Chemicals and 20% to Machinery and retains the rest. Machinery sells 20% of its output to Chemicals and 40% to Fuels and retains the rest. Complete parts (a) through (c) below. ..... a. Construct the exchange table for this economy. Distribution of Output from: Chemicals Fuels Machinery Purchased by: Chemicals Fuels Machinery (Type integers or decimals.) b. Develop a system of equations that leads to prices at which each sector's income matches its expenses. Then write the augmented matrix that can be row reduced to find these prices. The first, second, and third columns of the matrix should correspond to Chemicals, Fuels, and Machinery, respectively. The augmented matrix is (Type an integer or decimal for each matrix element.) c. Find a set of equilibrium prices when the price…
= Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Chemicals sells 30% of its output to Fuels and 50% to Machinery and retains the rest. Fuels sells 80% of its output to Chemicals and 10% to Machinery and retains the rest. Machinery sells 40% of its output to Chemicals and 30% to Fuels and retains the rest. Complete parts (a) through (c) below. a. Construct the exchange table for this economy. Distribution of Output from: Chemicals Fuels 0.2 0.8 0.3 0.1 0.5 0.1 (Type integers or decimals.) Machinery 0.4 0.3 0.3 Purchased by: Chemicals Fuels Machinery b. Develop a system of equations that leads to prices at which each sector's income matches its expenses. Then write the augmented matrix that can be row reduced to find these prices. The first, second, and third columns of the matrix should correspond to Chemicals, Fuels, and Machinery, respectively. wrong 0.2 0.8 0.4 0 The augmented matrix is 0.3 0.1 0.3 0 0.5 0.1 0.3 0 (Type an integer or decimal…
= Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Chemicals sells 30% of its output to Fuels and 50% to Machinery and retains the rest. Fuels sells 80% of its output to Chemicals and 10% to Machinery and retains the rest. Machinery sells 40% of its output to Chemicals and 30% to Fuels and retains the rest. Complete parts (a) through (c) below. a. Construct the exchange table for this economy. Distribution of Output from: Chemicals Fuels 0.2 0.8 0.3 0.5 Machinery 0.4 0.3 0.3 Purchased by: Chemicals Fuels Machinery 0.1 0.1 (Type integers or decimals.) b. Develop a system of equations that leads to prices at which each sector's income matches its expenses. Then write the augmented matrix that can be row reduced to find these prices. The first, second, and third columns of the matrix should correspond to Chemicals, Fuels, and Machinery, respectively. The augmented matrix is 0.8 0.8 0.4 0 0.3 -0.9 0.5 0 0.5 0.1 -0.9 0 (Type an integer or decimal for…
Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Chemicals sells 20% of its output to Fuels and 50% to Machinery and retains the rest. Fuels sells 80% of its output to Chemicals and 10% to Machinery and retains the rest. Machinery sells 50% of its output to Chemicals and 20% to Fuels and retains the rest. Complete parts (a) through (c) below. a. Construct the exchange table for this economy. Distribution of Output from: Chemicals Fuels Machinery Purchased by: Chemicals Fuels Machinery (Type integers or decimals.) b. Develop a system of equations that leads to prices at which each sector's income matches its expenses. Then write the augmented matrix that can be row reduced to find these prices. The first, second, and third columns of the matrix should correspond to Chemicals, Fuels, and Machinery, respectively. The augmented matrix is. (Type an integer or decimal for each matrix element.) c. Find a set of equilibrium prices when the price for the…
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Solve the problem. Suppose an economy consists of three sectors: Energy (E), Manufacturing (M), and Agriculture (A). Sector E sells 70% of its output to M and 30% to A. Sector M sells 30% of its output to E, 50% to A, and retains the rest. Sector A sells 15% of its output to E, 30% to M, and retains the rest. Denote the prices (dollar values) of the total annual outputs of the Energy, Manufacturing, and Agriculture sectors by Pe. Pm, and Pa respectively. If possible, find equilibrium prices that make each sector's income match its expenditures. Find the general solution as a vector, with pa free. 0.356 Pal Pm-0.686 Pa Pe Pa Pe Pm Pa Pe Pm - Pa Pe Pm Pa Pa [0.465 Pa = 0.593 Pa Pa [0.308 Pa 0.716 Pa Pa 0.607 Pa 0.481 Pa Pa
A conglomerate corporation develops, manufactures, and markets a wide range of products, including medical diagnostic imaging devices, jet engines, lighting products, and chemicals. In 2013, the stock price rose 33.55%, and in 2014, the stock price declined 9.2%. If one purchased $1,000 of some social media stock at the start of 2013, its value would be $2,926.83 at the end of 2014. Complete parts (a) through (c) below. a. Compute the geometric mean rate of return per year of the two-year period 2013-2014. (Hint: Denote an increase of 33.55% as R₁ = 0.3355). % per year. The geometric mean rate of return is (Round to two decimal places as need.) b. If you purchased $1,000 of this conglomerate corporation's stock at the start of 2013, what was its value at the end of 2014? The value of this stock at the end of 2014 was $ (Round to the nearest cent as needed.) c. Compare the result of (b) to the value of the $1,000 of the social media stock. Choose the correct answer below and fill in the…
An investment broker wants to invest up to $20,000. She can invest in two mutual funds based on their yearly average return for the 5 years ending December 31, 2009: the Franklin Natural Resources fund yielding 10% and the Oppenheimer Developing Markets A fund yielding 15%. She wants to invest at least $5000 in the Franklin Natural Resources fund and no more than $8000 in the Oppenheimer Developing Markets A fund. How much should she invest in each type of fund to maximize her return?
Night Shades Inc. (NSI) manufactures biotech sunglasses. These sunglasses sell for $150 each, and cost $70 each to produce. Night Shades Inc. has fixed costs of $100,000. a. Calculate Night Shades' Breakeven point. b. how much profit (loss) will Night Shades have if it sells 500 sunglasses? 4,000 sunglasses? c. Night Shades' manager expects an operating profit of $200.000. How many sunglasses must be sold to attain this profit?
OMEWORK.docx Page of 3 + 5. Suppose that a simple economy produces only three goods and services: sweatshirts, dental examinations, coffee drinks. Using the information in the table below, calculate the nominal GDP for this simple economy Product Sweatshirts Quantity 50 Price $35.00 Coffee drinks 1,000 6. Refer to Table below. A very simple economy produces two goods cameras and lezal services. The and the pon ading prices for 2015 and ON D

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