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Business mathematics problem

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Reference no: EM131089112

Can someone help solve this business mathematics problem? Kindly show the calculation

An economy consists of three industries R, S and T. The interrelationships between the productions of these industries are as shown below. Units in "000" tonnes.

            R                     S                      T                      Consumer                    Total

R         50                    20                    40                    70                                180

S          20                    30                    20                    90                                160

T          30                    20                    20                    50                                120

Required:

a) Determine the Leontief inverse matrix.

b) If the demand is expected to change for R, S and T and it becomes 60, 110 and 60 respectively, what must the total output be for each industry to satisfy this demand?

Reference no: EM131089112

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