uppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below. P M A = 0.4 0.2 0.2 0.4 Products Machinery If surpluses of 75 units of farm products and 7 units of farm machinery are desired, find the gross production of each industry. products units machinery units
uppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below. P M A = 0.4 0.2 0.2 0.4 Products Machinery If surpluses of 75 units of farm products and 7 units of farm machinery are desired, find the gross production of each industry. products units machinery units
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.3: Matrix Algebra
Problem 65E
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Suppose a primitive economy consists of two industries, farm products and farm machinery. Suppose also that its technology matrix is represented by the matrix shown below.
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A = |
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If surpluses of 75 units of farm products and 7 units of farm machinery are desired, find the gross production of each industry.
products | units |
machinery | units |
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