The robot manufacturing industry is very reliant to 2 industries. These industries are the computer manufacturing and the hardware manufacturing, respectively. Upon closer inspection, it was observed that both the computer and hardware manufacturing sectors also relies on the robot manufacturing industry and to each other. It was observed that the robotics industry sells 40% of its output to the computer manufacturing industry and 45% to the hardware industry and the remaining stocks are used by the robotics industry. Meanwhile, the computer industry sells 50% of its output to the robotics industry and 20% to the hardware manufacturers and uses the rest. Furthermore, it was obszerved that the hardware industry uses 20% of its stock and sells the remaining stock evenly to the computer and the robotics manufacturers. Determine the price of output for each economy.

The robot manufacturing industry is very reliant to 2 industries. These industries are the computer manufacturing and the hardware manufacturing, respectively. Upon closer inspection, it was observed that both the computer and hardware manufacturing sectors also relies on the robot manufacturing industry and to each other. It was observed that the robotics industry sells 40% of its output to the computer manufacturing industry and 45% to the hardware industry and the remaining stocks are used by the robotics industry. Meanwhile, the computer industry sells 50% of its output to the robotics industry and 20% to the hardware manufacturers and uses the rest. Furthermore, it was obszerved that the hardware industry uses 20% of its stock and sells the remaining stock evenly to the computer and the robotics manufacturers. Determine the price of output for each economy.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 11RQ: What is die difference between accounting and economic profit?

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What is die difference between accounting and economic profit?
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