The economy of a small island nation is based on two sectors, agriculture and tourism. Production of a dollar's worth of agriculture requires an input of $0.33 from agriculture and $0.48 from tourism. Production of a dollar's worth of tourism requires an input of $0.34 from agriculture and $0.29 from tourism. Find the output from each sector that is needed to satisfy a final demand of $41 million for agriculture and $45 million for tourism. The output from the agriculture sector is approximately $ million. (Round to the nearest million.)
The economy of a small island nation is based on two sectors, agriculture and tourism. Production of a dollar's worth of agriculture requires an input of $0.33 from agriculture and $0.48 from tourism. Production of a dollar's worth of tourism requires an input of $0.34 from agriculture and $0.29 from tourism. Find the output from each sector that is needed to satisfy a final demand of $41 million for agriculture and $45 million for tourism. The output from the agriculture sector is approximately $ million. (Round to the nearest million.)
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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