Find the equilibrium price, Algebra

Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest. Sector E sells 30% of its output to A, 35% to M, and 25% to T and retains the rest. Sector M sells 30% of its output to A, 15% to E, and 40% to T and retains the rest. Sector T sells 20% of its output to A, 10% to E, and 30% to M and retains the rest.

(a) Construct a diagram that shows the exchange between the three sectors.

(b) Determine the exchange table for this economy, where the columns describe how  the output of each sector is exchanged among the four sectors.

(c) Denote the prices of the total annual outputs of the sectors by pA, pE, pM and pT  respectively. Determine the equations that need to hold for the equilibrium prices  for the four sectors.

(d) Find the equilibrium prices, if they exist.

Posted Date: 4/3/2013 12:44:36 AM | Location : United States

Related Discussions:- Find the equilibrium price, Assignment Help, Ask Question on Find the equilibrium price, Get Answer, Expert's Help, Find the equilibrium price Discussions

Write discussion on Find the equilibrium price
Your posts are moderated
Related Questions

y = 4 - 3x /1 + 8x for x. Solution This one is very alike to the previous instance.  Here is the work for this problem. y + 8xy = 4 - 3x 8xy + 3x = 4 - y X(8 y +3)

how to simplifie radicals

what are the steps to solving a variable like this one -3f=g for f

what is the principal square root of the square number?

What type of equation is used if a ball is thrown upward 1.63 meters off the ground and it reaches 3.34 meters in height at 0.6 seconds before falling to the ground?

i have a test tomorrow and its to see if i get into high 7th grade math. there was a question on the practice packet about interquartile range. what does it mean and how do i find