We assume that in a village there are farmers, carpenters, and tailors, who provide the three essential goods: food, housing, and clothing. Suppose the farmers consume of the food (produced by farmers), of the housing (produced by carpenters) and of the clothes (produced by tailors). The carpenter consumes of the food, of the housing, and of the clothes. The tailors consume of the food, of the housing, and no clothes. Assume this is a closed Leontief model. If we know that the tailors produce 376 units of clothes, then the farmers produce housing. units of food and the carpenters produce units of
We assume that in a village there are farmers, carpenters, and tailors, who provide the three essential goods: food, housing, and clothing. Suppose the farmers consume of the food (produced by farmers), of the housing (produced by carpenters) and of the clothes (produced by tailors). The carpenter consumes of the food, of the housing, and of the clothes. The tailors consume of the food, of the housing, and no clothes. Assume this is a closed Leontief model. If we know that the tailors produce 376 units of clothes, then the farmers produce housing. units of food and the carpenters produce units of
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 23EQ:
23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...
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