Consider a closed economy producing three commodities: steel, coal and wheat. The production is carried out...

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Consider a closed economy producing three commodities: steel, coal and wheat. The production is carried out in the following way: - 1 tonne coal is used to produce 1 tonne of steel. 1/3 tonne steel is used to produce 1 tonne of coal. - 1/2 tonne steel and 1/2 tonne of coal are used to produce 1 tonne of wheat. 2018-2019 - 200 tonnes of steel are exported (used outside of the economy). - - 300 tonnes of coal are exported (used outside of the economy). 50 tonnes of wheat are exported (used outside of the economy). 1) Formulate the system of linear equations which allows obtaining the values of x1, x2 et x3 (that is to say, the amount of steel, coal and wheat required to satisfy the internal and external demands) (2 points). 2) Determine if this system has a unique solution and solve it (obtaining the amount of steel, coal and wheat required to satisfy the demands) (2 points). Consider a closed economy producing three commodities: steel, coal and wheat. The production is carried out in the following way: - 1 tonne coal is used to produce 1 tonne of steel. 1/3 tonne steel is used to produce 1 tonne of coal. - 1/2 tonne steel and 1/2 tonne of coal are used to produce 1 tonne of wheat. 2018-2019 - 200 tonnes of steel are exported (used outside of the economy). - - 300 tonnes of coal are exported (used outside of the economy). 50 tonnes of wheat are exported (used outside of the economy). 1) Formulate the system of linear equations which allows obtaining the values of x1, x2 et x3 (that is to say, the amount of steel, coal and wheat required to satisfy the internal and external demands) (2 points). 2) Determine if this system has a unique solution and solve it (obtaining the amount of steel, coal and wheat required to satisfy the demands) (2 points).

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1 System of Linear Equations Let x1 be the amount of steel required x2 be the amount of coal require... View the full answer