We assume that in a village there are farmers, carpenters, and tailors, who provide the three essential goods: food, housing, and clothing. Suppose the farmers consume of the food (produced by farmers), of the housing (produced by carpenters) and of the clothes (produced by tailors). The carpenter consumes of the food. of the housing, and of the clothes. The tailors consume of the food, of the housing, and no clothes. Assume this is a closed Leontief model. If we know that the tailors produce 280 units of clothes, then the farmers produce housing. units of food and the carpenters produce units of

We assume that in a village there are farmers, carpenters, and tailors, who provide the three essential goods: food, housing, and clothing. Suppose the farmers consume of the food (produced by farmers), of the housing (produced by carpenters) and of the clothes (produced by tailors). The carpenter consumes of the food. of the housing, and of the clothes. The tailors consume of the food, of the housing, and no clothes. Assume this is a closed Leontief model. If we know that the tailors produce 280 units of clothes, then the farmers produce housing. units of food and the carpenters produce units of

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...

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