5.(Section 2.5)Consider an open economy with consumption matrix[1/2 1/4 1/4C= 1/2 1/8 1/41/2 1/4 1/8If the open sector demands the same dollar value from each product-producingsector, which such sector must produce the greatest dollar value to meet thedemand? Is the economy productive?

Answered: Image /qna-images/answer/5314d3d9-2b6a-474d-85bc-8cbefe2ebb22.jpg

Answered: Consider an open economy with…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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This exercise requires the use of technology.Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars).Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $1,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $1,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) To 1 2 3 4 From 1 11,937 9 109 855 2 26,649 4,285 0 4,744 3 0 0 439 61 4 5,423 10,952 3,002 216 Total Output 97,795 120,594 14,642 47,473
ABC Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the management (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The profit of the operations depends on future demand. The annual profit of each option (in thousands of dollars) and for each state of demand is summarized in the following table: Staffing Options Own Staff Outside Vendor Combination High 650 900 800 Demand Medium 650 600 650 Low 600 300 400 1. If the manager of ABC Corporation is optimistic, which staffing option will he/she choose? 2. If the manager of ABC Corporation is conservative, which staffing option will he/she choose? 3. Suppose the probabilities of high, medium, and low demand are 40%, 10% and 50%, respectively. Using the expected value approach, which staffing option should the manager choose? 4. What is the expected value of perfect information?
4. A metal fabrication shop has a single punch press. There are currently three parts that the shop has agreed to produce that require the press, and it appears that they will be supplying these parts well into the future. You may assume that the press is the critical resource for these parts, so that we need not worry about the interaction of the press with the other machines in the shop. The relevant information is listed below: Part Number Annual Demand Setup Cost ($) Cost per unit ($) Production Rate per year 1 2,500 80 16 45,000 2 3 5,500 120 18 40,000 1,450 60 22 26,000 Holding costs are based on an 18 percent annual interest rate, and the products are to be produced in sequence on a rotation cycle. Setup times can be considered negligible. a. What is the optimal time between setups for part number 1? b. What percentage of the time is the punch press idle, assuming an optimal rotation cycle policy?
(b) Let xij be the amount shipped from source i to destination j in a 5X5 transportation problem, and let Cij be the corresponding transportation cost per unit. The amounts of supply at sources 1,2,3,4 and 5 are 210, 150,250,190 and 150 units respectively and the demands at destinations 1,2,3,4 and 5 are 205, 220,180,180 and 165 units respectively. The cost of shipping from source 1 to destinations 1,2,3,4 and 5 are 29, 28, 31, 27 and 32 respectively. The cost of shipping from source 2 to destinations 1,2,3,4 and 5 are 26, 27, 30, 37 and 31 respectively. The cost of shipping from source 3 to destinations 1,2,3,4 and 5 are 32, 38, 29, 27 and 35 respectively. The cost of shipping from source 4 to destinations 1,2,3,4 and 5 are 33, 39, 27, 29 and 33 respectively. The cost of shipping from source 5 to destinations 1,2,3,4 and 5 are 35,31, 34, 23 and 35 respectively. (i)Find the associated optimal cost. (ii)Determine each non basic variable.
Assume that an economy is based on two industrial sectors, agriculture (A) and energy (E). The technology matrix M and final demand matrices (in billions of dollars) are shown below. A E A 0.5 0.2 5 M = D= E 0.5 0.3 2 and the output for each sector, X, that is needed to satisfy the Find (IM) final demand, D. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. (I-M)-1 = (Simplify your answer.) B. The matrix (I - M) is singular.
Find the production schedule for the technology matrix and demand vector given below: 0.1 0.3 0.4 4 A = 0.1 0.2 0.4 D = 5 %3D 0.1 0.1 3 X =

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Consider an open economy with consumption matrix 1/2 1/4 1/4 C= 1/2 1/8 1/4 1/2 1/4 1/8] product-producing If the open sector demands the same dollar value from each sector, which such sector must produce the greatest dollar value to meet the demand? Is the economy productive?