Mathematics, 25.06.2020 02:01 datboyjulio21
Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Chemicals sells 30% of its output to Fuels and 50% to Machinery and retains the rest. Fuels sells 80% of its output to Chemicals and 10% to Machinery and retains the rest. Machinery sells 60% of its output to Chemicals and 20% to Fuels and retains the rest. Complete parts (a) through (c) below. a. Construct the exchange table for this economy.
b. Develop a system of equations that leads to prices at which each sector's income matches its expenses. Then write the augmented matrix that can be row reduced to find these prices.
c. [M] Find a set of equilibrium prices when the price for the Machinery output is 100 units.
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Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Ch...
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