Solution-Discuss an input-output model with three sectors

Discuss an input-output model with three sectors

Reference no: EM131567419

Question: Consider an input-output model with three sectors. Sector 1 is heavy industry, sector 2 is light industry, and sector 3 is agriculture. Suppose that the input requirements are given by the following table:

Suppose the final demands for the three goods are 85, 95, and 20 units, respectively. If x1, x2, and x3 denote the number of units that have to be produced in the three sectors, write down the Leontief system for the problem. Verify that x1 = 150, x2 = 200, and x3 = 100 is a solution.

Reference no: EM131567419

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Discuss an input-output model with three sectors

Reference no: EM131567419

Reference no: EM131567419

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