The economy of a small island nation is based on two sectors, agriculture and tourism. Production of
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The economy of a small island nation is based on two sectors, agriculture and tourism. Production of a dollar’s worth of agriculture requires an input of $0.20 from agriculture and $0.15 from tourism. Production of a dollar’s worth of tourism requires an input of $0.40 from agriculture and $0.30 from tourism. Find the output from each sector that is needed to satisfy a final demand of $60 million for agriculture and $80 million for tourism.
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Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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