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April 19, 2014

Homework Help: math

Posted by dub on Monday, January 30, 2012 at 6:47pm.

A simple economy consists of two industries: agriculture and manifacturing. The production of 1 unit of agricultural products requires the consumption of 0.4 units of agricultural products and 0.15 units of manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.4 units of agricultural products and 0.35 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.
XXX? million dollars worth of agricultural products, and
xxx? million dollars worth of manufactured products.

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