Use the following input-output matrix and the closed model to find the ratio of coal The ratio of coal to steel produced is (Type an integer or a simplified fraction) to steel produced. Steel Coal Steel 3 Coal 1 3
Suppose that production of 1 unit of mining requires 5/7 unit of mining, 1/7 unit of manufacturing, and 1/7 unit of communication. To produce 1 unit of manufacturing requires 3/7 unit of mining, 2/7 unit of manufacturing, and 2/7 unit of communication. To produce 1 unit of communication requires 0 units of mining, 5/7 unit of manufacturing, and 2/7 unit of communication. Find the ratio of the three commodities in the closed model. units of mining to every 10 units of manufacturing and units of communication. The ratio is
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-agriculture, About units of agriculture, units of manufacturing, and units of just three commodi...
A simplified economy involves just three commodity categories-agriculture, manufacturing, and transportation, all in appropriate units. Production...
A simplified economy involves just three commodity categories-agriculture, manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture requires 1/5 unit of manufacturing and 1/4 unit of transportation; production of 1 unit of manufacturing requires 1/4 unit of agriculture and 1/4 unit of transportation; and production of 1 unit of transportation requires 1/3 unit of agriculture and 1/4 unit of manufacturing. If the demand is 605 units of each commodity, how many units of each commodity should...
1 Find the input-output matrix, A, and the demand matrix, D, for this economy. A simplified econo...
1 Find the input-output matrix, A, and the demand matrix, D, for this economy. A simplified economy involves just three commodity categories agriculture, manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture requires 14 unit of manufacturing and 1/5 unit of transportation; production of 1 unit of manufacturing requires 1/5 unit of agriculture and 1/5 The input-output matrix is unit of transportation; and production of 1 unit of transportation requires 13 unit of agriculture and 1/5...
The input-output matrix for a simplified economy with just three sectors (agriculture, manufacturing, and households) is...
The input-output matrix for a simplified economy with just three sectors (agriculture, manufacturing, and households) is given below. Agriculture Manufacturing Households Agriculture 0.26 0.42 0.109 Manufacturing 0.12 0.14 0.116 Households 0.77 3.51 0.106 A. How many units from each sector does the agriculture sector require to produce 1 unit? The agriculture sector requires units from agriculture, units from manufacturing, and units from households.
Opportunity Cost Agriculture Industrial Units produced by one worker in one year: Workforce (people) Agricult...
Opportunity Cost Agriculture Industrial Units produced by one worker in one year: Workforce (people) Agriculture China 1000 10 USAL 300 20 Industrial 1 0 100 China USA The Outcome without Trade The Outcome with Trade The Gains from Trade What They Produce and Consume (units) The Increase in consumption What They Produce (units) What They consume (units) What What They Trade funits) Agriculture China Agriculture: ndustrial periculture dustriak Industrial Agriculture industrial Agriculture: Trade 3000 Agricultural for 14000 industrial industrial Agriculture...
4. The Fix family bought a house for $210,000. They paid $42,000 down and took out...
4. The Fix family bought a house for $210,000. They paid $42,000 down and took out a 30-year mortgage for the balance at 3.75%. (8 pts. – each question 2 pts.) a) Find the monthly payment. b) How much of the first payment is interest? After 15 years, the family sold their house for $255,000. c) Estimate the current mortgage balance at the time of sale. d) Find the amount of money they receive from the sale after paying off...
1. A manufacturer produces three products, A, B, and C. The profits for each unit of...
1. A manufacturer produces three products, A, B, and C. The profits for each unit of A, B, and C sold are $11, $22, and $33, respectively. Fixed costs are $18,000 per year, and the costs of producing each unit of A, B, and C are $4, $5, and $7, respectively. Next year, a total of 10,000 units of all three products is to be produced and sold, and a total profit of $18,000 is to be realized. If total...
Example Suppose that the economy of the city of Everett depends on three industries Logging-timber operation, elect...
Example Suppose that the economy of the city of Everett depends on three industries Logging-timber operation, electricity and aircraft-manufacturing plant. Monitoring the operations of these three industries over a period of one year, we were able to come up with the following observations: 1. To produce 1 unit worth of timber, the Logging-timber industry must consume 0.3 units of its own production, 0.3 units of electricisy and 0.3 units of aircraft to run its operations 2. To produce 1 unit...
1. An economy has two sectors: manufacturing and services. One unit of output from manufacturing requires inputs of 0.1 units from manufacturing and 0.8 units from ser- vices. One unit of output fro...
1. An economy has two sectors: manufacturing and services. One unit of output from manufacturing requires inputs of 0.1 units from manufacturing and 0.8 units from ser- vices. One unit of output from services requires inputs of 0.4 units from manufacturing and 0.2 units from services. The final demand is 4 units of manufacturing and 2 units of services (e) (3 points) W which sector corresponds to each column. rite down the consumption matrix for the economy. Clearly indicate (b)...
Algebra 1. The Leontief matrix for a 3 sector economy (agriculture, manufactur ing, transportation, respectively) is 20 A=1.3 .4 .5 The production vector is x = 130 10 (a) Calculate the number of uni...
Algebra 1. The Leontief matrix for a 3 sector economy (agriculture, manufactur ing, transportation, respectively) is 20 A=1.3 .4 .5 The production vector is x = 130 10 (a) Calculate the number of units of agricultural, manufacturing and transportation goods which are required to make production x (that is, calculate the inputs of the production) (b) Hence calculate the corresponding demand vector d. aij] for an economy based 2. The input-output (Leontief) matrix A on tourism and mineral products is...
Direct material = $7 Direct Labor = $4 Variable Manufacturing Overhead = $2 Fixed Manufacturing Overhead...
Direct material = $7 Direct Labor = $4 Variable Manufacturing Overhead = $2 Fixed Manufacturing Overhead = $3 Fixed Selling Expense = $3 Fixed Admin Expense = $2 Sales commission = $1 Variable Admin Expense $.50 (Costs are when 10,000 units are produced and sold) Relevant range is 7,500-12,500 units 1) If 8,000 units are produced, what is the average fixed manufacturing cost per unit produced? 2) If 12,500 units are produced, what is the average fixed manufacturing cost per...
A simplified economy involves just three commodity categories-agriculture, manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture requires 1/5 unit of manufacturing and 1/4 unit of transportation; production of 1 unit of manufacturing requires 1/4 unit of agriculture and 1/4 unit of transportation; and production of 1 unit of transportation requires 1/3 unit of agriculture and 1/4 unit of manufacturing. If the demand is 605 units of each commodity, how many units of each commodity should...
1 Find the input-output matrix, A, and the demand matrix, D, for this economy. A simplified economy involves just three commodity categories agriculture, manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture requires 14 unit of manufacturing and 1/5 unit of transportation; production of 1 unit of manufacturing requires 1/5 unit of agriculture and 1/5 The input-output matrix is unit of transportation; and production of 1 unit of transportation requires 13 unit of agriculture and 1/5...
The input-output matrix for a simplified economy with just three sectors (agriculture, manufacturing, and households) is given below. Agriculture Manufacturing Households Agriculture 0.26 0.42 0.109 Manufacturing 0.12 0.14 0.116 Households 0.77 3.51 0.106 A. How many units from each sector does the agriculture sector require to produce 1 unit? The agriculture sector requires units from agriculture, units from manufacturing, and units from households.
Opportunity Cost Agriculture Industrial Units produced by one worker in one year: Workforce (people) Agriculture China 1000 10 USAL 300 20 Industrial 1 0 100 China USA The Outcome without Trade The Outcome with Trade The Gains from Trade What They Produce and Consume (units) The Increase in consumption What They Produce (units) What They consume (units) What What They Trade funits) Agriculture China Agriculture: ndustrial periculture dustriak Industrial Agriculture industrial Agriculture: Trade 3000 Agricultural for 14000 industrial industrial Agriculture...
Example Suppose that the economy of the city of Everett depends on three industries Logging-timber operation, electricity and aircraft-manufacturing plant. Monitoring the operations of these three industries over a period of one year, we were able to come up with the following observations: 1. To produce 1 unit worth of timber, the Logging-timber industry must consume 0.3 units of its own production, 0.3 units of electricisy and 0.3 units of aircraft to run its operations 2. To produce 1 unit...
1. An economy has two sectors: manufacturing and services. One unit of output from manufacturing requires inputs of 0.1 units from manufacturing and 0.8 units from ser- vices. One unit of output from services requires inputs of 0.4 units from manufacturing and 0.2 units from services. The final demand is 4 units of manufacturing and 2 units of services (e) (3 points) W which sector corresponds to each column. rite down the consumption matrix for the economy. Clearly indicate (b)...
Algebra 1. The Leontief matrix for a 3 sector economy (agriculture, manufactur ing, transportation, respectively) is 20 A=1.3 .4 .5 The production vector is x = 130 10 (a) Calculate the number of units of agricultural, manufacturing and transportation goods which are required to make production x (that is, calculate the inputs of the production) (b) Hence calculate the corresponding demand vector d. aij] for an economy based 2. The input-output (Leontief) matrix A on tourism and mineral products is...
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