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 $0.39 from agriculture and $0.44 from tourism. Production of a dollar's worth of tourism requires an input of $0.43 from agriculture and $0.28 from tourism. Find the output from each sector that is needed to satisfy a final demand of $47 million for agriculture and $71 million for tourism. The output from the agriculture sector is approximately $ (Round to the nearest million.) The output from the tourism sector is approximately $ (Round to the nearest million.) million. 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 $0.39 from agriculture and $0.44 from tourism. Production of a dollar's worth of tourism requires an input of $0.43 from agriculture and $0.28 from tourism. Find the output from each sector that is needed to satisfy a final demand of $47 million for agriculture and $71 million for tourism. The output from the agriculture sector is approximately $ (Round to the nearest million.) The output from the tourism sector is approximately $ (Round to the nearest million.) million. million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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