Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below. M [0.4 0.2 A = [0.2 0.2] Machinery Products If surpluses of 94 units of farm products and 9 units of farm machinery are desired, find the gross production of each industry. products 1760 units machinery 550 units
Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below. M [0.4 0.2 A = [0.2 0.2] Machinery Products If surpluses of 94 units of farm products and 9 units of farm machinery are desired, find the gross production of each industry. products 1760 units machinery 550 units
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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![Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below.
P
M
0.4 0.2
Products
A =
0.2 0.2
Machinery
If surpluses of 94 units of farm products and 9 units of farm machinery are desired, find the gross production of each industry.
products
1760
units
machinery
550
units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32a4db67-1a26-4eef-9085-d3da8b4c3cd8%2F90aed20b-e513-43c4-abc7-49a6d803dcd2%2Fjzjh9cq_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below.
P
M
0.4 0.2
Products
A =
0.2 0.2
Machinery
If surpluses of 94 units of farm products and 9 units of farm machinery are desired, find the gross production of each industry.
products
1760
units
machinery
550
units
![Suppose that the economy of a small nation has an electronics industry, a steel industry, and an auto industry, with the following technology matrix.
E
S A
0.6 0.2 0.2
Electronics
A =
0.1 0.4 0.5
Steel
[0.1 0.2 0.2
Autos
If the nation wishes to have surpluses of 82 units of electronics production, 227 units of steel production, and 262 automobiles, find the gross production of each industry.
electronics
units
steel
units
autos
units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32a4db67-1a26-4eef-9085-d3da8b4c3cd8%2F90aed20b-e513-43c4-abc7-49a6d803dcd2%2Fazzdkdm_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that the economy of a small nation has an electronics industry, a steel industry, and an auto industry, with the following technology matrix.
E
S A
0.6 0.2 0.2
Electronics
A =
0.1 0.4 0.5
Steel
[0.1 0.2 0.2
Autos
If the nation wishes to have surpluses of 82 units of electronics production, 227 units of steel production, and 262 automobiles, find the gross production of each industry.
electronics
units
steel
units
autos
units
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