Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 15% of its output to Lumber, 50% to Energy, and retains the rest. Lumber sells 15% of its output to Mining, 50% to Energy, 15% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 20% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 15% 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.

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ISBN:9780470458365
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Chapter2: Second-order Linear Odes
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Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation.
Mining sells 15% of its output to Lumber, 50% to Energy, and retains the rest. Lumber
sells 15% of its output to Mining, 50% to Energy, 15% to Transportation, and retains
the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 20%
to Transportation, and retains the rest. Transportation sells 10% of its output to Mining,
15% 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.)
Transcribed Image Text:Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 15% of its output to Lumber, 50% to Energy, and retains the rest. Lumber sells 15% of its output to Mining, 50% to Energy, 15% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 20% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 15% 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.)
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