K Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 15% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 5% of its output to Mining, 50% to Energy, 20% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 25% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 20% to Lumber, 50% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below Distribution of Output from: Mining Lumber Energy Transportation Purchased by: Mining Lumber (Type integers or decimals.) Energy Transportation b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM. PL. PE, and PT, respectively. If PT = $100, then PM 5 $ PL = $, and PE = $ (Round to the nearest dollar as needed.)

K Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 15% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 5% of its output to Mining, 50% to Energy, 20% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 25% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 20% to Lumber, 50% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below Distribution of Output from: Mining Lumber Energy Transportation Purchased by: Mining Lumber (Type integers or decimals.) Energy Transportation b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM. PL. PE, and PT, respectively. If PT = $100, then PM 5 $ PL = $, and PE = $ (Round to the nearest dollar as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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