Find the equilibrium price, Algebra

Assignment Help:

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.


Related Discussions:- Find the equilibrium price

Distance word problem, Alex lives .4 miles from the park, beth lives .8 mil...

Alex lives .4 miles from the park, beth lives .8 miles from the park. To run equal distances Alex runs 8 times around the park and Beth run 6 times around the part. Write an equati

Pythagorean theorem, how do you find the value of x in simplified radical?

how do you find the value of x in simplified radical?

Geometric definition of absolute value equations, In this definition we wil...

In this definition we will think of |p| as the distance of p from the origin onto a number line. Also we will always employ a positive value for distance.  Assume the following num

Base numbers, convert 2543 to a decimal base 10 to binary base 2

convert 2543 to a decimal base 10 to binary base 2

Word problem, Can you help solve this word problem? christine collected som...

Can you help solve this word problem? christine collected some toys for charity. She donated 3/4 of the toys to charity A. then she donated 1/3 of the remaining toys to charity B.

Linear programing, Trees in urban areas help keep air fresh by absorbing ca...

Trees in urban areas help keep air fresh by absorbing carbon dioxide. A city has $2100 to spend on planting spruce and maple trees. The land available for planting is 45,000 ft2. H

Identifying the property, if I have the equation 3(x+4y)+5(2x-y)an then I c...

if I have the equation 3(x+4y)+5(2x-y)an then I change it into (3x+12y)+(10x-5y) what property is it

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd