Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 20% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 40% to Energy, 25% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 10% to Lumber, 30% to Transportation, and retains the rest. Transportation sells 15% of its output to Mining, 20% to Lumber, 60% 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 (Type integers or decimals.) ... Purchased by: Mining Lumber Energy Transportation
Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 20% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 40% to Energy, 25% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 10% to Lumber, 30% to Transportation, and retains the rest. Transportation sells 15% of its output to Mining, 20% to Lumber, 60% 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 (Type integers or decimals.) ... Purchased by: Mining Lumber Energy Transportation
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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Kindly solve both a and b parts in 30 minutes and get the thumbs up
Transcribed Image Text:Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 20% of its output to
Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 40% to Energy, 25% to
Transportation, and retains the rest. Energy sells 20% of its output to Mining, 10% to Lumber, 30% to Transportation,
and retains the rest. Transportation sells 15% of its output to Mining, 20% to Lumber, 60% 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
(Type integers or decimals.)
Purchased by:
Mining
Lumber
Energy
Transportation
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