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s, Agriculture (A), Energy (E), Manufacturing (M), and

Linear Algebra and Its Applications | 5th Edition | ISBN: 9780321982384 | Authors: David C. Lay; Steven R. Lay; Judi J. McDonald ISBN: 9780321982384 49

Solution for problem 4E Chapter 1.6

Linear Algebra and Its Applications | 5th Edition

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Linear Algebra and Its Applications | 5th Edition | ISBN: 9780321982384 | Authors: David C. Lay; Steven R. Lay; Judi J. McDonald

Linear Algebra and Its Applications | 5th Edition

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Problem 4E

Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest. Sector E sells 30% of its output to A, 35% to M, and 25% to T and retains the rest. Sector M sells 30% of its output to A, 15% to E, and 40% to T and retains the rest. Sector T sells 20% of its output to A, 10% to E, and 30% to M and retains the rest.a. Construct the exchange table for this economy.b. [M] Find a set of equilibrium prices for the economy.

Step-by-Step Solution:
Step 1 of 3

Solution 4E(a) Distribution of output fromAgricultureEnergyManufacturingTranscriptionPurchased by.65.30.30.20Agriculture.10.10.15.10Energy.25.35.15.30Manufacturing0.25.40.40Transportation(b) So, = 2.03 , = .53, = 1.17 But = 100 The = 203, = 53 & = 1.17

Step 2 of 3

Chapter 1.6, Problem 4E is Solved
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Textbook: Linear Algebra and Its Applications
Edition: 5
Author: David C. Lay; Steven R. Lay; Judi J. McDonald
ISBN: 9780321982384

Linear Algebra and Its Applications was written by and is associated to the ISBN: 9780321982384. This textbook survival guide was created for the textbook: Linear Algebra and Its Applications , edition: 5. The full step-by-step solution to problem: 4E from chapter: 1.6 was answered by , our top Math solution expert on 07/20/17, 03:54AM. Since the solution to 4E from 1.6 chapter was answered, more than 367 students have viewed the full step-by-step answer. This full solution covers the following key subjects: its, sells, sector, output, Rest. This expansive textbook survival guide covers 65 chapters, and 1898 solutions. The answer to “Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest. Sector E sells 30% of its output to A, 35% to M, and 25% to T and retains the rest. Sector M sells 30% of its output to A, 15% to E, and 40% to T and retains the rest. Sector T sells 20% of its output to A, 10% to E, and 30% to M and retains the rest.a. Construct the exchange table for this economy.b. [M] Find a set of equilibrium prices for the economy.” is broken down into a number of easy to follow steps, and 109 words.

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s, Agriculture (A), Energy (E), Manufacturing (M), and