Find the level of production for each sector in order

Reference no: EM13203721

Consider a simple economy consisting of three sectors: food, clothing, and shelter. The production of 1 unit of food requires the consumption of 0.4 unit of food, 0.2 unit of clothing, and 0.2 unit of shelter. The production of 1 unit of clothing requires the consumption of 0.1 unit of food, 0.2 unit of clothing, and 0.3 unit of shelter. The production of 1 unit of shelter requires the consumption of 0.3 unit of food, 0.1 unit of clothing, and 0.1 unit of shelter. Find the level of production for each sector in order to satisfy the demand for $100 million worth of food, $40 million worth of clothing, and $250 million worth of shelter. (Round your answer to the nearest whole number.)

Reference no: EM13203721

Questions Cloud

Which regression coefficients are statistically significant : A statistician from your firm used a linear demand specification to estimate the demand for its product and sent you a hard copy of the results; then she quit. Unfortunately, some entries are missing because the toner was low in her printer. Use t..

Find the stationary points and linear approximating systems : Find the stationary points and linear approximating systems at each station

Find the midpoint of the opposite side of the triangle : Show by direct computation that the centriod of the triangle with vertices (0,0), (r,0), and (0,h)is the point(r/3,h/3). Verify that this point lies on the line from the vertex (0,0) to the midpoint of the opposite side of the triangle and two-thi..

What is judys total income from each bond : What is Judy's total income from each bond - Should she use this total as a way of deciding which bond to purchase?

Find the level of production for each sector in order : Find the level of production for each sector in order to satisfy the demand for $100 million worth of food, $40 million worth of clothing, and $250 million worth of shelter. (Round your answer to the nearest whole number.)

What is the revenue function : any has fixed cost of 300$ and variable cost of 3/4x + 1460$/unit where x is total number of units produced. The selling price of it's product Is 1500-1/4x $/ unit. What is the cost function? What is the revenue function?

Find what are the speeds of the buses : Two hours later, another bus started north from New York. If the buses went at the same rate of speed and were 352 kilometers apart at 2 p.m., what are the speeds of the buses?

What are the dimensions of the parcel : A prcel of land is 6ft onger than it is wide. Each diagonal from one corner to the opposite corner is 174 ft long. What are the dimensions of the parcel?

What is the size of the settlement : what is the size of the settlement? (F) If you were the plaintiff, would you like to see a higher or lower interest rate?

User Account

All Pages