Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below. P M A = 0.4 0.20.2 0.4 ProductsMachineryIf surpluses of 75 units of farm products and 7 units of farm machinery are desired, find the gross production of each industry.products unitsmachinery units

Given, technology matrix, P MA=0.40.20.20.4 where P=Production and M=Machinery. Also…

Answered: uppose a primitive economy consists of…

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 a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below.

A =

0.4	0.2
0.2	0.4

Products

Machinery

If surpluses of 75 units of farm products and 7 units of farm machinery are desired, find the gross production of each industry.

products	units
machinery	units

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