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Write down the leontief system for the given economy

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Reference no: EM131567425

Question: Consider an economy divided into an agricultural sector (A) and an industrial sector (I ). To produce one unit in sector A requires 1/6 unit from A and 1/4 unit from I. To produce one unit in sector I requires 1/4 unit from A and 1/4 unit from I. Suppose final demands in each of the two sectors are 60 units.

(a) Write down the Leontief system for this economy.

(b) Find the number of units that have to be produced in each sector in order to meet the final demands.

Reference no: EM131567425

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