Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 50% to Energy, 15% to Transportation, and retains the rest. Energy sells 30% of its output to Mining, 20% to Lumber, 30% to Transportation, and retains the rest. Transportation sells 25% of its output to Mining, 20% to Lumber, 40% 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 Energy Transportation (Type integers or decimals.) b Denote the prices (that is dollar values) of the total annual outputs of the Mining Lumber Energy and Transportation sectors by D D. Dr and p respectively

Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 50% to Energy, 15% to Transportation, and retains the rest. Energy sells 30% of its output to Mining, 20% to Lumber, 30% to Transportation, and retains the rest. Transportation sells 25% of its output to Mining, 20% to Lumber, 40% 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 Energy Transportation (Type integers or decimals.) b Denote the prices (that is dollar values) of the total annual outputs of the Mining Lumber Energy and Transportation sectors by D D. Dr and p respectively

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

QUESTION 22 Refer to the information provided in Figure 2.1 below for the economy of Macroland to answer the question(s) that follow. Capital goods Consumer goods Figure 2.1 Refer to Figure 2.1. Macroland is currently operating at Point A. The best explanation for this is that the economy operates as an efficient market. the economy has very poor technology. the economy's resources are being used inefficiently. the economy has very few resources.
Question 22.22 Economic profits are equal to total revenues minus fixed costs. total revenues minus the costs of raw materials. total revenues minus the opportunity costs of all inputs. gross profit minus selling and operating expenses.
am. 285.
micro 1
In ‘standing on shoulder’ effect in the production of ideas existing technology can be productive in the production of new technology just as it is in the production of final goods. True or False
Suppose that a country has only two commodities, two factors of production, and no savings. The two commodities are wine (W) and cheese (C) and the two factors of production are capital (K) and labour (L). The country collects the following partial factor taxes: tKC is a tax on capital used in the production of cheese equal to 20%. tKW is a tax on capital used in the production of wine equal to 25%. tLC is a tax on labour used in the production of cheese equal to 20%. tLW is a tax on labour used in the production of wine equal to 15%. Which of the following would have the same outcome as the above taxes? A) Replacing tKW and tKC with a 22.5% tax on capital. B) Replacing tKC and tLC with a 20% tax on cheese. C) Replacing tKW and tLW with a 20% tax on wine. D) Replacing tLW and tLC with a 17.5% tax on labour. E) All of the above. Please explain
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 0.1045 0.0428 0.0028 0.0825 0.1086 0.0584 0.0868 0.1019 0.2031 Natural Resources Manufacturing Trade and Services Suppose the demand (in millions of dollars) matrix is the matrix D, shown below. Find the amount each sector should produce. 450 D= 301 126 Production levels of units from natural resources, services are needed. (Round to the nearest whole number as needed.) units from manufacturing, and units from trade and
Hi can you please help with following questions I am not sure how to solve them please assist with question A You are the sole survivor of a shipwreck on a desert island. You do not expect to be rescued.You can either use your time to grow food to consume immediately, or to build new tools andbuildings (capital) which will increase your supply of food in future years. a) Sketch your initial production function (total output of food + capital in terms of yourlabour input), and show how to turn this into a feasible set. Show your optimal choiceof how you spend your time, assuming you initially consume everything you produce.
In the aftermath of a hurricane, an entrepreneur took a one-month leave of absence (without pay) from her $5,000 per month job in order to operate a kiosk that sold fresh drinking water. During the month she operated this venture the entrepreneur paid the government $2,500 in kiosk rent and purchased water from a local wholesaler at a price of $1.38 per gallon. If consumers were willing to pay $2.12 to purchase each gallon of fresh drinking water, how many units did she have to sell in order to turn an economic profit? Instruction: Enter your responses rounded up to the nearest gallon.
Q.13. Subject :- Economy