Consider an economy with three sectors: Fuels and Power, Manufacturing, and Services. Fuels and Power sells 75% of its output to Manufacturing, 10% to Services, and retains the rest. Manufacturing sells 10% of its output to Fuels and Power, 70% to Services, and retains the rest. Services sells 25% to Fuels and Power, 50% to Manufacturing, and retains the rest. Find the equilibrium price for each sector. Assume the total economy is valued at $ 1,000,000,000 The equilibrium price of the Fuels and Power sector is The equilibrium price of the Manufacturing sector is The equilibrium price of the Services sector is

Consider an economy with three sectors: Fuels and Power, Manufacturing, and Services. Fuels and Power sells 75% of its output to Manufacturing, 10% to Services, and retains the rest. Manufacturing sells 10% of its output to Fuels and Power, 70% to Services, and retains the rest. Services sells 25% to Fuels and Power, 50% to Manufacturing, and retains the rest. Find the equilibrium price for each sector. Assume the total economy is valued at $ 1,000,000,000 The equilibrium price of the Fuels and Power sector is The equilibrium price of the Manufacturing sector is The equilibrium price of the Services sector is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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