The input-output matrix for a simplified economy with just three sectors (natural resources, manufacturing, and trade and services) is given below. Natural Resources Manufacturing Trade and Services Natural Resources 0.1045 0.0428 0.0029 Manufacturing 0.0827 0.1087 0.0584 Trade and Services 0.0867 0.1019 0.2032 Suppose the demand (in millions of dollars) matrix is the matrix D, shown below. Find the amount each sector should produce. 451 D= 300 126 Production levels of units from natural resources, units from manufacturing, and units from trade and services are needed. (Round to the nearest whole number as needed.)

The input-output matrix for a simplified economy with just three sectors (natural resources, manufacturing, and trade and services) is given below. Natural Resources Manufacturing Trade and Services Natural Resources 0.1045 0.0428 0.0029 Manufacturing 0.0827 0.1087 0.0584 Trade and Services 0.0867 0.1019 0.2032 Suppose the demand (in millions of dollars) matrix is the matrix D, shown below. Find the amount each sector should produce. 451 D= 300 126 Production levels of units from natural resources, units from manufacturing, and units from trade and services are needed. (Round to the nearest whole number as needed.)

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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