Exercises are derived from economic data for 2002 published by the U.S. Bureau of Economic...

Exercises are derived from economic data for 2002 published by the U.S. Bureau of Economic Analysis.

Industry Analysis: Three Industries The farms (farm),food and beverage and. tobacco products (food), and food services and drinldngplaces (dining) industries are interrelated. Based on data from 2002, it requires $0.14 of farm products, $0.09 of food products, and $0.00 of dining products to produce $1 of farm products. Similarly, it requires $0.19 of farm products, $0.13 of food products, and $0.00 of dining products to produce $1 of food products. Likewise, it requires $0.01 of farm products, $0.18 of food products, and $0.01 of dining products to produce SI of dining products. If the external demand for farm products is $53 billion, the external demand for food products is $422 billion, and the external demand for dining products is $379 billion, what output from each sector is required to meet the demand for farm, food, and dining products?