e.Find the output for each sector that is needed to satisfy a final demand of $22 thousand for agriculture, $13 thousand for energy, $27 thousand for manufacturing, and $8 thousand for utilities.
e.Find the output for each sector that is needed to satisfy a final demand of $22 thousand for agriculture, $13 thousand for energy, $27 thousand for manufacturing, and $8 thousand for utilities.
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 28EQ
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Question
2e must be answered with excel
Transcribed Image Text:2.
An economy is based on four sectors, agriculture (A), energy (E), manufacturing
(M), and utilities. Production of a dollar's worth of agriculture requires an input of
$0.2 from the agriculture sector, $0.35 from the energy sector, 0.15 from
manufacturing, and 0.05 from utilities. Production of a dollar's worth of energy
requires an input of $0.05 from agriculture, 0.30 from the energy sector and $0.25
from the manufacturing sector and 0.20 from utilities. Production of a dollar's
worth of manufacturing requires an input of $0.1 from the agriculture sector, $0.1
from the energy sector, $0.3 from the manufacturing sector, and 0.23 from
utilities. Production of a dollar's worth of utilities requires an input of $0.05 from
the agriculture sector, $0.33 from the energy sector, $0.27 from the|
manufacturing sector, and 0.13 from utilities. Find the output from each sector
that is needed to satisfy a final demand of $22 thousand for agriculture, $13
Transcribed Image Text:thousand for energy, $27 thousand for manufacturing and $8 thousand for
utilities.
Write the technology matrix that describes the paragraph above. Make
sure you label the rows and columns input and output.
a.
b.
Is this an open or closed technology matrix? Why?
С.
Using the technology matrix, what type of sector is least dependent on
itself?
d.For each $1,000 of manufacturing sector produced, how much energy
was required?
e.Find the output for each sector that is needed to satisfy a final demand of
$22 thousand for agriculture, $13 thousand for energy, $27 thousand for
manufacturing, and $8 thousand for utilities.
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