Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 50% to Energy, and retains the rest. Lumber sells 15% of its output to Mining, 50% to Energy, 20% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 10% to Lumber, 20% to Transportation, and retains the rest. Transportation sells 20% of its output to Mining, 10% to Lumber, 40% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below. Mining 0.4 0.1 0.5 0 Distribution of Output from: Lumber Energy Transportation 0.15 0.2 0.2 0.15 0.5 0.1 0.5 0.2 0.1 0.4 0.300000000000 Purchased by: Mining Lumber If PT = $100, then PM = $.PL = S, and PE = $ (Round to the nearest dollar as needed.) Energy Transportation 0.2 (Type integers or decimals.) b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM. PL. PE, and PT, respectively.

Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 50% to Energy, and retains the rest. Lumber sells 15% of its output to Mining, 50% to Energy, 20% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 10% to Lumber, 20% to Transportation, and retains the rest. Transportation sells 20% of its output to Mining, 10% to Lumber, 40% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below. Mining 0.4 0.1 0.5 0 Distribution of Output from: Lumber Energy Transportation 0.15 0.2 0.2 0.15 0.5 0.1 0.5 0.2 0.1 0.4 0.300000000000 Purchased by: Mining Lumber If PT = $100, then PM = $.PL = S, and PE = $ (Round to the nearest dollar as needed.) Energy Transportation 0.2 (Type integers or decimals.) b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM. PL. PE, and PT, respectively.

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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