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March 27, 2015

Homework Help: algebra

Posted by sam on Monday, February 7, 2011 at 11:17pm.

A simple economy consists of two industries: agriculture and manifacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 units of agricultural products and 0.15 units of manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.25 units of agricultural products and 0.2 units of manufactured goods.
Find the gross output of goods needed to satisfy a consumer demand for 120 million dollars worth of agricultural products and 130 million dollars worth of manufactured products.

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