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[M] The consumption matrix C below is based on

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 13E Chapter 2.6

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 13E

[M] The consumption matrix C below is based on input–output data for the U.S. economy in 1958, with data for 81 sectors grouped into 7 larger sectors: (1) nonmetal household and personal products, (2) final metal products (such as motor vehicles), (3) basic metal products and mining, (4) basic nonmetal products and agriculture, (5) energy, (6) services, and (7) entertainment and miscellaneous products.2 Find the production levels needed to satisfy the final demand d. (Units are in millions of dollars.)

Step-by-Step Solution:

Solution Step 1:Let It turns out is invertible. Here for the final demand ,the solution to is easy with computer software such as Matlab. Rounded to 4 places,matlab gives

Step 2 of 1

Chapter 2.6, Problem 13E is Solved
Textbook: Linear Algebra and Its Applications
Edition: 5
Author: David C. Lay; Steven R. Lay; Judi J. McDonald
ISBN: 9780321982384

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[M] The consumption matrix C below is based on