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.
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.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe76db16a-d22e-4c23-b9d0-d371ec515587%2Fa88eecca-0900-4c6b-9530-c66f2ecf13a6%2Ffqqt144_processed.png&w=3840&q=75)
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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