A simplified economy involves just three commodity categories agriculture, manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture requires 1/5 unit of manufacturing and 1/3 unit of transportation; production of 1 unit of manufacturing requires 1/3 unit of agriculture and 1/3 unit of transportation; and production of 1 unit of transportation requires 1/4 unit of agriculture and 1/3 unit of manufacturing. If the demand is 624 units of each commodity, how many units of each commodity should be produced? Find the input-output matrix, A, and the demand matrix, D, for this economy. The input-output matrix is (Type an integer or fraction for each matrix element.)
A simplified economy involves just three commodity categories agriculture, manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture requires 1/5 unit of manufacturing and 1/3 unit of transportation; production of 1 unit of manufacturing requires 1/3 unit of agriculture and 1/3 unit of transportation; and production of 1 unit of transportation requires 1/4 unit of agriculture and 1/3 unit of manufacturing. If the demand is 624 units of each commodity, how many units of each commodity should be produced? Find the input-output matrix, A, and the demand matrix, D, for this economy. The input-output matrix is (Type an integer or fraction for each matrix element.)
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 27EQ
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![A simplified economy involves just three commodity categories agriculture, manufacturing, and transportation, all in appropriate units.
Production of 1 unit of agriculture requires 1/5 unit of manufacturing and 1/3 unit of transportation; production of 1 unit of manufacturing
requires 1/3 unit of agriculture and 1/3 unit of transportation; and production of 1 unit of transportation requires 1/4 unit of agriculture and
1/3 unit of manufacturing. If the demand is 624 units of each commodity, how many units of each commodity should be produced?
Find the input-output matrix, A, and the demand matrix, D, for this economy.
The input-output matrix is
(Type an integer or fraction for each matrix element.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F38f14c87-7125-4f46-b574-e8524c31d0ad%2F15fb4acf-3ea6-4d93-a3d4-df3712fdca76%2F2lmvs9a_processed.png&w=3840&q=75)
Transcribed Image Text:A simplified economy involves just three commodity categories agriculture, manufacturing, and transportation, all in appropriate units.
Production of 1 unit of agriculture requires 1/5 unit of manufacturing and 1/3 unit of transportation; production of 1 unit of manufacturing
requires 1/3 unit of agriculture and 1/3 unit of transportation; and production of 1 unit of transportation requires 1/4 unit of agriculture and
1/3 unit of manufacturing. If the demand is 624 units of each commodity, how many units of each commodity should be produced?
Find the input-output matrix, A, and the demand matrix, D, for this economy.
The input-output matrix is
(Type an integer or fraction for each matrix element.)
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