EBK Linear Algebra and it's applications section 1.6 is missing expert answers to questions 3E and 4E. I've attached them as images. I was hoping these could be added as I'm stuck on 3E and I need to check 4E who's answer is not in the textbook. Thank you. **Economic Sectors and Inter-Sectoral Exchanges**In this problem, we consider an economy that comprises four distinct sectors: Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Here's a detailed look into how each sector allocates its output to the other sectors:- **Sector A (Agriculture):** - Sells 10% of its output to Sector E (Energy). - Sells 25% of its output to Sector M (Manufacturing). - Retains the remaining 65% of its output.- **Sector E (Energy):** - Sells 30% of its output to Sector A (Agriculture). - Sells 35% of its output to Sector M (Manufacturing). - Sells 25% of its output to Sector T (Transportation). - Retains the remaining 10% of its output.- **Sector M (Manufacturing):** - Sells 30% of its output to Sector A (Agriculture). - Sells 15% of its output to Sector E (Energy). - Sells 40% of its output to Sector T (Transportation). - Retains the remaining 15% of its output.- **Sector T (Transportation):** - Sells 20% of its output to Sector A (Agriculture). - Sells 10% of its output to Sector E (Energy). - Sells 30% of its output to Sector M (Manufacturing). - Retains the remaining 40% of its output.**Tasks:**1. **Construct the Exchange Table:** - You are asked to construct an exchange table that summarizes the percentage of output each sector sells to every other sector. 2. **Find Equilibrium Prices:** - Find a set of equilibrium prices for the economy based on the given inter-sectoral trade percentages.This structured economy model helps in understanding the flow of resources and outputs between different sectors, enabling the analysis of interdependencies and economic equilibrium. ### Economic Analysis: Three-Sector Model#### Problem OverviewConsider an economy with three sectors: Chemicals & Metals, Fuels & Power, and Machinery. The inter-sector trading relationships are as follows:1. **Chemicals**: - Sells 30% of its output to Fuels - Sells 50% of its output to Machinery - Retains the remaining 20%2. **Fuels**: - Sells 80% of its output to Chemicals - Sells 10% of its output to Machinery - Retains the remaining 10%3. **Machinery**: - Sells 40% of its output to Chemicals - Sells 40% of its output to Fuels - Retains the remaining 20%The tasks are:a. **Construct the Exchange Table**: This involves creating a matrix that shows the proportional outputs traded among the sectors and retained by each sector.b. **Develop a System of Equations and Augmented Matrix**: - Formulate equations ensuring that each sector's total income matches its total expenses. - Convert these equations into an augmented matrix suitable for row-reduction.c. **Determine Equilibrium Prices**: - Calculate the equilibrium prices assuming that the price for the Machinery output is set to 100 units.#### Detailed Analysis##### a. Construct the Exchange TableThe exchange table shows the proportion of output each sector sells to other sectors and retains. | Sector | Chemicals | Fuels | Machinery | Retained ||------------|-----------|-------|-----------|----------|| Chemicals | 0% | 30% | 50% | 20% || Fuels | 80% | 0% | 10% | 10% || Machinery | 40% | 40% | 0% | 20% |##### b. System of Equations and Augmented MatrixTo ensure that each sector’s income matches its expenses, the equations can be set up as follows:Let \( P_C \), \( P_F \), and \( P_M \) be the prices for outputs from Chemicals, Fuels, and Machinery, respectively.For Chemicals:\[ P_C = 0.3P_F + 0.5P_M + 0.2P_C \

Name: EBK Linear Algebra and it's applications section 1.6 is missing expert
Uploaded: 2024-03-20T06:38:44.000Z
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Description: EBK Linear Algebra and it's applications section 1.6 is missing expert answers to questions 3E and 4E. I've attached them as images. I was hoping these could be added as I'm stuck on 3E and I need to check 4E who's answer is not in the textbook. Than