Suppose we have an economy with two sectors, wood and paper. • In order to produce $1 of wood, we use $0.30 of wood and $0.06 of рaper. • In order to produce $1 of paper, we use $0.008 of wood and $0.14 of раper. If we decide to produce $8000 of wood and $5000 of paper, how much of our production goes to meet internal demand? Internal demand for wood: $ [Select] Internal demand for paper: $ [Select ]

Suppose we have an economy with two sectors, wood and paper. • In order to produce $1 of wood, we use $0.30 of wood and $0.06 of рaper. • In order to produce $1 of paper, we use $0.008 of wood and $0.14 of раper. If we decide to produce $8000 of wood and $5000 of paper, how much of our production goes to meet internal demand? Internal demand for wood: $ [Select] Internal demand for paper: $ [Select ]

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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