Mathematics, 22.02.2021 18:30, gomez36495983
Consider an economy with three​ sectors, Chemicals​ & Metals, Fuels​ & Power, and Machinery. Chemicals sells ​% of its output to Fuels and ​% to Machinery and retains the rest. Fuels sells ​% of its output to Chemicals and ​% to Machinery and retains the rest. Machinery sells ​% of its output to Chemicals and ​% to Fuels and retains the rest.
Required:
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. Find a set of equilibrium prices when the price for the Machinery output is loo units.
Answers: 2
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