A simple economy consists of two industries: agriculture and manufacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 unit of agricultural products and 0.3 unit of manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.4 unit of agricultural products and 0.3 unit of manufactured goods. (a) Find the total output of goods needed to satisfy a consumer demand for $100 million worth of agricultural products and $130 million worth of manufactured goods. (Round your answers to one decimal place.) agricultural products $ million million manufactured goods $ (b) Find the value of the goods consumed in the internal process of production in order to meet the gross output. (Round your answers to one decimal place.) agricultural products $ manufactured goods $ Need Help? Read It Watch It million million

A simple economy consists of two industries: agriculture and manufacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 unit of agricultural products and 0.3 unit of manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.4 unit of agricultural products and 0.3 unit of manufactured goods. (a) Find the total output of goods needed to satisfy a consumer demand for $100 million worth of agricultural products and $130 million worth of manufactured goods. (Round your answers to one decimal place.) agricultural products $ million million manufactured goods $ (b) Find the value of the goods consumed in the internal process of production in order to meet the gross output. (Round your answers to one decimal place.) agricultural products $ manufactured goods $ Need Help? Read It Watch It million million

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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